Western Africa: Pump For Liquid Market 2024

Pump For Liquid Exports

Exports in Western Africa

After two years of growth, overseas shipments of pumps for liquids and liquid elevators decreased by -12.3% to X units in 2021. Over the period under review, exports recorded a perceptible decrease. The most prominent rate of growth was recorded in 2015 when exports increased by 50%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

In value terms, pump for liquid exports declined remarkably to $X in 2021. Overall, exports saw a perceptible downturn. The pace of growth appeared the most rapid in 2020 when exports increased by 100%. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from Cote d'Ivoire (X units), Ghana (X units), Nigeria (X units) and Togo (X units), together resulting at 79% of total export. Burkina Faso (X units) held the next position in the ranking, followed by Senegal (X units). All these countries together took approx. 16% share of total exports. Mali (X units) took a little share of total exports.

From 2012 to 2021, the biggest increases were recorded for Togo (with a CAGR of +32.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) remains the largest pump for liquid supplier in Western Africa, comprising 56% of total exports. The second position in the ranking was held by Senegal ($X), with a 12% share of total exports. It was followed by Nigeria, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Cote d'Ivoire amounted to +26.8%. In the other countries, the average annual rates were as follows: Senegal (+4.6% per year) and Nigeria (-8.2% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2021, falling by -7.3% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2020 when the export price increased by 71% against the previous year. As a result, the export price reached the peak level of $X per unit, and then declined in the following year.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+13.5%), while the other leaders experienced more modest paces of growth.

Pump For Liquid Imports

Imports in Western Africa

In 2021, supplies from abroad of pumps for liquids and liquid elevators decreased by -13.5% to X units, falling for the second consecutive year after three years of growth. Over the period under review, imports, however, posted a moderate increase. The pace of growth appeared the most rapid in 2018 with an increase of 57% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, pump for liquid imports skyrocketed to $X in 2021. Total imports indicated a buoyant increase from 2012 to 2021: its value increased at an average annual rate of +6.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +116.4% against 2016 indices. The pace of growth appeared the most rapid in 2019 when imports increased by 41% against the previous year. The level of import peaked in 2021 and is expected to retain growth in the immediate term.

Imports by Country

In 2021, Nigeria (X units) represented the key importer of pumps for liquids and liquid elevators, constituting 72% of total imports. It was distantly followed by Burkina Faso (X units) and Mali (X units), together making up a 16% share of total imports. Cote d'Ivoire (X units), Ghana (X units) and Senegal (X units) held a relatively small share of total imports.

From 2012 to 2021, average annual rates of growth with regard to pump for liquid imports into Nigeria stood at +4.4%. At the same time, Mali (+28.0%), Cote d'Ivoire (+16.0%) and Senegal (+7.4%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +28.0% from 2012-2021. By contrast, Burkina Faso (-2.2%) and Ghana (-8.6%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria, Mali and Cote d'Ivoire increased by +7.2, +4.4 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported pumps for liquids and liquid elevators in Western Africa, comprising 51% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Cote d'Ivoire, with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria stood at +7.2%. In the other countries, the average annual rates were as follows: Ghana (+2.3% per year) and Cote d'Ivoire (+12.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2021, picking up by 37% against the previous year. Import price indicated a perceptible increase from 2012 to 2021: its price increased at an average annual rate of +3.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, pump for liquid import price increased by +49.1% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by 67% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Ghana ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+11.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform