Western Africa: Fromwork Market 2024

Fromwork Market Size in Western Africa

The West African fromwork market rose to $X in 2022, surging by 4.9% against the previous year. In general, consumption continues to indicate a strong expansion. The level of consumption peaked in 2022 and is likely to see gradual growth in years to come.

Fromwork Production in Western Africa

In value terms, fromwork production declined modestly to $X in 2022 estimated in export price. In general, production, however, enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2017 with an increase of 73%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Fromwork Exports

Exports in Western Africa

After two years of growth, shipments abroad of shuttering for concrete constructional work, shingles and shakes, of wood decreased by -8.1% to X tons in 2022. Over the period under review, exports, however, showed buoyant growth. The most prominent rate of growth was recorded in 2021 when exports increased by 39%. As a result, the exports attained the peak of X tons, and then fell in the following year.

In value terms, fromwork exports dropped slightly to $X in 2022. Overall, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2021 with an increase of 35% against the previous year. As a result, the exports reached the peak of $X, and then dropped in the following year.

Exports by Country

Cote d'Ivoire dominates exports structure, accounting for X tons, which was near 72% of total exports in 2022. Sierra Leone (X tons) ranks second in terms of the total exports with a 9.1% share, followed by Ghana (6.4%) and Senegal (6.3%). Nigeria (X tons) and Burkina Faso (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fromwork exports from Cote d'Ivoire stood at +18.2%. At the same time, Nigeria (+22.8%), Ghana (+14.5%), Burkina Faso (+11.1%) and Senegal (+10.0%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +22.8% from 2012-2022. By contrast, Sierra Leone (-3.9%) illustrated a downward trend over the same period. Cote d'Ivoire (+41 p.p.), Ghana (+2.6 p.p.) and Nigeria (+2.5 p.p.) significantly strengthened its position in terms of the total exports, while Sierra Leone saw its share reduced by -22% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest fromwork supplier in Western Africa, comprising 65% of total exports. The second position in the ranking was held by Sierra Leone ($X), with a 10% share of total exports. It was followed by Ghana, with an 8.3% share.

In Cote d'Ivoire, fromwork exports expanded at an average annual rate of +11.4% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Sierra Leone (-4.0% per year) and Ghana (+20.0% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, surging by 5.4% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the export price increased by 11%. The level of export peaked at $X per ton in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.7%), while the other leaders experienced a decline in the export price figures.

Fromwork Imports

Imports in Western Africa

For the third year in a row, Western Africa recorded growth in purchases abroad of shuttering for concrete constructional work, shingles and shakes, of wood, which increased by 23% to X tons in 2022. Overall, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2013 when imports increased by 47% against the previous year. Over the period under review, imports attained the peak figure in 2022 and are likely to continue growth in years to come.

In value terms, fromwork imports skyrocketed to $X in 2022. Over the period under review, imports posted a prominent expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 61% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the immediate term.

Imports by Country

Nigeria (X tons) and Cote d'Ivoire (X tons) were the major importers of shuttering for concrete constructional work, shingles and shakes, of wood in 2022, reaching near 32% and 27% of total imports, respectively. Mauritania (X tons) held the next position in the ranking, followed by Senegal (X tons), Cabo Verde (X tons) and Benin (X tons). All these countries together took near 30% share of total imports. Guinea-Bissau (X tons) held a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Cote d'Ivoire (with a CAGR of +40.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest fromwork importing markets in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), together accounting for 78% of total imports.

Cote d'Ivoire, with a CAGR of +42.2%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, picking up by 29% against the previous year. Over the last decade, it increased at an average annual rate of +3.1%. The most prominent rate of growth was recorded in 2014 an increase of 32% against the previous year. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Guinea-Bissau ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+4.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform