Western Africa: Percussion Musical Instrument Market 2024

Percussion Musical Instrument Market Size in Western Africa

In 2022, the West African percussion musical instrument market decreased by -1.1% to $X, falling for the second year in a row after three years of growth. Over the period under review, consumption continues to indicate a abrupt setback. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Percussion Musical Instrument Production in Western Africa

In value terms, percussion musical instrument production rose rapidly to $X in 2022 estimated in export price. Overall, production, however, recorded a deep downturn. The growth pace was the most rapid in 2020 when the production volume increased by 24% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Percussion Musical Instrument Exports

Exports in Western Africa

In 2022, shipments abroad of percussion musical instruments decreased by -0.8% to X units for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2020 with an increase of 125% against the previous year. Over the period under review, the exports hit record highs at X units in 2021, and then contracted slightly in the following year.

In value terms, percussion musical instrument exports reached $X in 2022. In general, exports, however, showed measured growth. The pace of growth appeared the most rapid in 2020 when exports increased by 124% against the previous year. As a result, the exports reached the peak of $X; afterwards, it flattened through to 2022.

Exports by Country

In 2022, Ghana (X units) was the largest exporter of percussion musical instruments, committing 60% of total exports. It was distantly followed by Mali (X units), Cote d'Ivoire (X units), Guinea (X units) and Senegal (X units), together achieving a 39% share of total exports.

Ghana was also the fastest-growing in terms of the percussion musical instruments exports, with a CAGR of +21.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+14.7%) and Guinea (+9.4%) displayed positive paces of growth. By contrast, Mali (-2.0%) and Senegal (-12.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Guinea increased by +44, +5.9 and +1.8 percentage points, respectively.

In value terms, the largest percussion musical instrument supplying countries in Western Africa were Ghana ($X), Cote d'Ivoire ($X) and Mali ($X), with a combined 80% share of total exports.

Cote d'Ivoire, with a CAGR of +16.9%, saw the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, remaining stable against the previous year. In general, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 when the export price increased by 8.8% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+4.5%), while the other leaders experienced mixed trends in the export price figures.

Percussion Musical Instrument Imports

Imports in Western Africa

Percussion musical instrument imports reduced sharply to X units in 2022, shrinking by -19.5% compared with the year before. Over the period under review, imports recorded a abrupt contraction. The most prominent rate of growth was recorded in 2019 when imports increased by 190%. Over the period under review, imports reached the peak figure at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, percussion musical instrument imports contracted significantly to $X in 2022. In general, imports faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2014 when imports increased by 74% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Ghana dominates imports structure, accounting for X units, which was near 89% of total imports in 2022. It was distantly followed by Nigeria (X units), achieving a 7.8% share of total imports.

Ghana was also the fastest-growing in terms of the percussion musical instruments imports, with a CAGR of +4.5% from 2012 to 2022. Nigeria (-23.5%) illustrated a downward trend over the same period. Ghana (+57 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -55.3% from 2012 to 2022, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported percussion musical instruments in Western Africa, comprising 62% of total imports. The second position in the ranking was held by Nigeria ($X), with a 29% share of total imports.

In Ghana, percussion musical instrument imports remained relatively stable over the period from 2012-2022.

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, reducing by -20.5% against the previous year. In general, the import price saw a deep contraction. The pace of growth appeared the most rapid in 2016 when the import price increased by 99% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Ghana amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+5.8%).

Source: IndexBox Platform

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