Western Africa: Parachute Market 2024

Parachute Market Size in Western Africa

The West African parachute market contracted to $X in 2021, flattening at the previous year. Overall, consumption, however, recorded a noticeable decrease. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market failed to regain momentum.

Parachute Production in Western Africa

In value terms, parachute production shrank to $X in 2021 estimated in export price. Over the period under review, production, however, saw a pronounced descent. The pace of growth appeared the most rapid in 2015 with an increase of 13% against the previous year. As a result, production reached the peak level of $X. From 2016 to 2021, production growth remained at a somewhat lower figure.

Parachute Exports

Exports in Western Africa

In 2021, exports of parachutes and rotochutes in Western Africa reduced markedly to X kg, waning by -88.5% against the previous year's figure. In general, exports showed a deep contraction. The pace of growth was the most pronounced in 2020 with an increase of 1,569% against the previous year. As a result, the exports attained the peak of X tons, and then dropped notably in the following year.

In value terms, parachute exports shrank rapidly to $X in 2021. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by 1,204%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Sierra Leone represented the key exporter of parachutes and rotochutes in Western Africa, with the volume of exports resulting at X kg, which was near 57% of total exports in 2021. Nigeria (X kg) ranks second in terms of the total exports with a 30% share, followed by Liberia (10%). Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Nigeria (with a CAGR of +66.2%), while the other leaders experienced more modest paces of growth.

In value terms, Sierra Leone ($X) remains the largest parachute supplier in Western Africa, comprising 63% of total exports. The second position in the ranking was held by Liberia ($X), with a 27% share of total exports. It was followed by Nigeria, with a 7.1% share.

In Sierra Leone, parachute exports expanded at an average annual rate of +4.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Liberia (-17.9% per year) and Nigeria (+41.1% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, rising by 17% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 an increase of 125% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Liberia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Liberia (+14.6%), while the other leaders experienced mixed trends in the export price figures.

Parachute Imports

Imports in Western Africa

In 2021, purchases abroad of parachutes and rotochutes decreased by -34.4% to X tons for the first time since 2017, thus ending a three-year rising trend. In general, imports showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when imports increased by 203% against the previous year. Over the period under review, imports reached the maximum at X tons in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

In value terms, parachute imports contracted slightly to $X in 2021. Overall, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 140%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Mauritania prevails in imports structure, recording X tons, which was approx. 85% of total imports in 2021. It was distantly followed by Togo (X kg), achieving a 6.3% share of total imports. The following importers - Cote d'Ivoire (X kg) and Niger (X kg) - together made up 6.3% of total imports.

From 2012 to 2021, average annual rates of growth with regard to parachute imports into Mauritania stood at +21.3%. At the same time, Cote d'Ivoire (+38.9%), Togo (+24.0%) and Niger (+10.9%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +38.9% from 2012-2021. From 2012 to 2021, the share of Mauritania, Togo and Cote d'Ivoire increased by +76, +5.7 and +4.2 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mauritania ($X) constitutes the largest market for imported parachutes and rotochutes in Western Africa, comprising 78% of total imports. The second position in the ranking was held by Togo ($X), with a 12% share of total imports. It was followed by Cote d'Ivoire, with a 7.2% share.

In Mauritania, parachute imports increased at an average annual rate of +9.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Togo (+45.9% per year) and Cote d'Ivoire (+49.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, with an increase of 48% against the previous year. Over the period under review, the import price enjoyed strong growth. The growth pace was the most rapid in 2015 when the import price increased by 319% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Togo ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+17.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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