Western Africa: Data Storage Device Market 2024

Data Storage Device Market Size in Western Africa

The West African data storage device market dropped slightly to $X in 2022, reducing by -4.4% against the previous year. Over the period under review, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Data Storage Device Production in Western Africa

In value terms, data storage device production shrank to $X in 2022 estimated in export price. Overall, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the production volume increased by 28% against the previous year. Over the period under review, production attained the peak level at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Data Storage Device Exports

Exports in Western Africa

In 2022, approx. X units of data storage devices were exported in Western Africa; waning by -62% compared with the year before. In general, exports, however, continue to indicate a perceptible increase. The growth pace was the most rapid in 2021 when exports increased by 1,432%. As a result, the exports attained the peak of X units, and then shrank notably in the following year.

In value terms, data storage device exports declined rapidly to $X in 2022. Over the period under review, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2021 when exports increased by 687% against the previous year. As a result, the exports reached the peak of $X, and then shrank rapidly in the following year.

Exports by Country

Ghana represented the major exporter of data storage devices in Western Africa, with the volume of exports amounting to X units, which was near 67% of total exports in 2022. Cote d'Ivoire (X units) took a 19% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (7.1%). Mali (X units) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the data storage devices exports, with a CAGR of +45.3% from 2012 to 2022. At the same time, Cote d'Ivoire (+22.6%) displayed positive paces of growth. By contrast, Nigeria (-2.6%) and Mali (-22.4%) illustrated a downward trend over the same period. Ghana (+65 p.p.) and Cote d'Ivoire (+16 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria and Mali saw its share reduced by -6.5% and -43.3% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest data storage device supplier in Western Africa, comprising 66% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total exports. It was followed by Nigeria, with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to +47.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (+28.6% per year) and Nigeria (+13.7% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, with an increase of 51% against the previous year. In general, the export price showed strong growth. The most prominent rate of growth was recorded in 2015 when the export price increased by 52%. Over the period under review, the export prices hit record highs at $X per unit in 2017; however, from 2018 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 Nigeria ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+16.8%), while the other leaders experienced more modest paces of growth.

Data Storage Device Imports

Imports in Western Africa

Data storage device imports reached X units in 2022, standing approx. at the previous year. In general, imports, however, recorded a perceptible reduction. The pace of growth was the most pronounced in 2014 when imports increased by 456% against the previous year. As a result, imports attained the peak of X units. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, data storage device imports dropped to $X in 2022. Over the period under review, imports saw a buoyant increase. The pace of growth was the most pronounced in 2014 with an increase of 76%. Over the period under review, imports hit record highs at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Nigeria represented the main importing country with an import of around X units, which accounted for 49% of total imports. Ghana (X units) ranks second in terms of the total imports with a 15% share, followed by Cote d'Ivoire (8%) and Senegal (4.8%). Cabo Verde (X units), Mali (X units), Togo (X units), Benin (X units), Burkina Faso (X units) and Guinea (X units) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of -8.0% from 2012 to 2022. At the same time, Togo (+23.5%), Cabo Verde (+22.0%), Mali (+15.4%), Ghana (+13.6%), Benin (+12.6%), Cote d'Ivoire (+5.3%) and Senegal (+2.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +23.5% from 2012-2022. By contrast, Burkina Faso (-1.8%) and Guinea (-4.7%) illustrated a downward trend over the same period. While the share of Ghana (+12 p.p.), Cote d'Ivoire (+4.5 p.p.), Cabo Verde (+3.9 p.p.), Togo (+3.7 p.p.), Mali (+3.6 p.p.), Benin (+2.7 p.p.) and Senegal (+2 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (-34.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2022, together accounting for 84% of total imports. Senegal, Benin, Mali, Togo, Cabo Verde, Guinea and Burkina Faso lagged somewhat behind, together comprising a further 14%.

Cabo Verde, with a CAGR of +22.8%, saw the highest growth rate of the value of imports, among 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, with a decrease of -2.7% against the previous year. Overall, the import price, however, posted resilient growth. The pace of growth appeared the most rapid in 2013 an increase of 154%. The level of import peaked at $X per unit in 2021, and then dropped slightly in the following year.

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 Ghana ($X per unit), while Cabo Verde ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+16.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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