Western Africa: Hand Stamp Market 2024

Hand Stamp Exports

Exports in Western Africa

In 2022, hand stamp exports in Western Africa soared to X units, growing by 92% compared with the year before. In general, exports, however, saw a drastic downturn. The growth pace was the most rapid in 2019 when exports increased by 125% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, hand stamp exports shrank markedly to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2019 when exports increased by 107% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Togo prevails in exports structure, accounting for X units, which was approx. 89% of total exports in 2022. It was distantly followed by Nigeria (X units), generating a 6.2% share of total exports. Senegal (X units) took a little share of total exports.

Togo was also the fastest-growing in terms of the stamps for use in the hand exports, with a CAGR of +6.4% from 2012 to 2022. Senegal (-18.8%) and Nigeria (-21.7%) illustrated a downward trend over the same period. Togo (+61 p.p.) significantly strengthened its position in terms of the total exports, while Senegal and Nigeria saw its share reduced by -11.9% and -36.3% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest hand stamp supplier in Western Africa, comprising 80% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 7.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo stood at +1.0%. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (-27.5% per year) and Senegal (-25.4% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, with a decrease of -70.5% against the previous year. Overall, the export price recorded a deep contraction. The pace of growth was the most pronounced in 2016 an increase of 136%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a 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 Senegal ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-5.0%), while the other leaders experienced a decline in the export price figures.

Hand Stamp Imports

Imports in Western Africa

After three years of growth, purchases abroad of stamps for use in the hand decreased by -8.3% to X units in 2022. Overall, imports, however, enjoyed a slight expansion. The most prominent rate of growth was recorded in 2016 when imports increased by 63% against the previous year. The volume of import peaked at X units in 2021, and then shrank in the following year.

In value terms, hand stamp imports fell to $X in 2022. Over the period under review, imports, however, continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2021 with an increase of 73% against the previous year. As a result, imports reached the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Nigeria (X units) and Ghana (X units) represented the main importers of stamps for use in the hand in Western Africa, together amounting to near 56% of total imports. Cote d'Ivoire (X units) held a 14% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (12%) and Mali (6.4%). The following importers - Guinea (X units) and Cabo Verde (X units) - each recorded a 4% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Cabo Verde (with a CAGR of +40.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest hand stamp importing markets in Western Africa were Ghana ($X), Senegal ($X) and Cote d'Ivoire ($X), together accounting for 69% of total imports. Nigeria, Mali, Cabo Verde and Guinea lagged somewhat behind, together comprising a further 25%.

Cabo Verde, with a CAGR of +41.6%, recorded the highest rates of growth with regard to 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 unit, waning by -6.4% against the previous year. Import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hand stamp import price increased by +14.3% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of 76% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat 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 Cabo Verde ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+13.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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