Western Africa: Semiconductor Led Market 2024

Semiconductor Led Exports

Exports in Western Africa

In 2021, approx. X units of semiconductor light emitting diodes (LEDs) were exported in Western Africa; increasing by 95% compared with 2020. In general, exports continue to indicate a significant increase. The most prominent rate of growth was recorded in 2016 when exports increased by 312%. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports failed to regain momentum.

In value terms, semiconductor LED exports declined significantly to $X in 2021. Overall, exports recorded resilient growth. The growth pace was the most rapid in 2016 with an increase of 236%. As a result, the exports reached the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Togo (X units) and Senegal (X units) represented roughly 73% of total exports in 2021. It was distantly followed by Cabo Verde (X units), generating a 13% share of total exports. The following exporters - Mauritania (X units), Mali (X units) and Nigeria (X units) - together made up 10% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of +68.6%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Cabo Verde ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2021, with a combined 75% share of total exports.

Togo, with a CAGR of +51.1%, recorded the highest growth rate of the value of exports, in terms of 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

The export price in Western Africa stood at $X per unit in 2021, declining by -57.9% against the previous year. In general, the export price recorded a abrupt descent. The most prominent rate of growth was recorded in 2018 an increase of 27% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (-5.1%), while the other leaders experienced a decline in the export price figures.

Semiconductor Led Imports

Imports in Western Africa

In 2021, semiconductor led imports in Western Africa shrank significantly to X units, waning by -38.4% compared with the year before. Over the period under review, imports, however, saw a strong increase. The growth pace was the most rapid in 2014 with an increase of 126%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2021, imports stood at a somewhat lower figure.

In value terms, semiconductor LED imports reduced rapidly to $X in 2021. Overall, imports, however, saw a tangible expansion. The most prominent rate of growth was recorded in 2014 with an increase of 146% against the previous year. The level of import peaked at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Burkina Faso (X units) was the largest importer of semiconductor light emitting diodes (LEDs), mixing up 36% of total imports. Senegal (X units) ranks second in terms of the total imports with a 16% share, followed by Mali (9.4%), Nigeria (9.3%), Ghana (8.2%) and Cote d'Ivoire (5.5%). Benin (X units) followed a long way behind the leaders.

Imports into Burkina Faso increased at an average annual rate of +36.3% from 2012 to 2021. At the same time, Cote d'Ivoire (+63.9%), Benin (+50.2%), Senegal (+45.4%), Mali (+10.5%) and Ghana (+8.6%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +63.9% from 2012-2021. By contrast, Nigeria (-5.6%) illustrated a downward trend over the same period. While the share of Burkina Faso (+29 p.p.), Senegal (+15 p.p.), Cote d'Ivoire (+5.3 p.p.) and Benin (+3.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Mali (-2.4 p.p.), Ghana (-3.8 p.p.) and Nigeria (-38.9 p.p.) displayed negative dynamics.

In value terms, Burkina Faso ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 56% share of total imports. Ghana, Mali, Cote d'Ivoire and Benin lagged somewhat behind, together accounting for a further 31%.

In terms of the main importing countries, Cote d'Ivoire, with a CAGR of +46.1%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per unit, which is down by -2.6% against the previous year. Overall, the import price continues to indicate a abrupt curtailment. The pace of growth appeared the most rapid in 2020 when the import price increased by 9% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Nigeria ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (-0.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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