Western Africa: Tractor Market 2024

Tractor Market Size in Western Africa

The West African tractor market dropped to $X in 2022, falling by -10.8% against the previous year. Over the period under review, consumption posted a measured increase. As a result, consumption attained the peak level of $X, and then declined in the following year.

Tractor Production in Western Africa

In value terms, tractor production shrank modestly to $X in 2022 estimated in export price. The total production indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +3.6% against 2020 indices. The growth pace was the most rapid in 2017 when the production volume increased by 65%. As a result, production reached the peak level of $X. From 2018 to 2022, production growth remained at a somewhat lower figure.

Tractor Exports

Exports in Western Africa

In 2022, approx. X units of tractors were exported in Western Africa; approximately equating 2021. Over the period under review, exports, however, continue to indicate a prominent increase. The pace of growth appeared the most rapid in 2017 when exports increased by 4,042% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tractor exports dropped rapidly to $X in 2022. Overall, exports, however, continue to indicate a modest increase. The growth pace was the most rapid in 2013 with an increase of 60% against the previous year. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Guinea (X units) and Niger (X units) represented the main exporters of tractors in Western Africa, together reaching approx. 50% of total exports. Senegal (X units) held the next position in the ranking, followed by Ghana (X units), Togo (X units), Burkina Faso (X units) and Nigeria (X units). All these countries together took approx. 43% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Guinea (with a CAGR of +29.0%), while the other leaders experienced more modest paces of growth.

In value terms, the largest tractor supplying countries in Western Africa were Senegal ($X), Togo ($X) and Burkina Faso ($X), with a combined 57% share of total exports.

Togo, with a CAGR of +10.9%, saw the highest rates of growth with regard to 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

In 2022, the export price in Western Africa amounted to $X per unit, falling by -23.2% against the previous year. Overall, the export price showed a abrupt shrinkage. The pace of growth was the most pronounced in 2018 an increase of 1,786% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2013; however, from 2014 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 Togo ($X per unit), while Guinea ($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 (+2.6%), while the other leaders experienced more modest paces of growth.

Tractor Imports

Imports in Western Africa

In 2022, purchases abroad of tractors decreased by -9.8% to X units for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, recorded a tangible expansion. The pace of growth was the most pronounced in 2021 when imports increased by 68%. As a result, imports reached the peak of X units, and then contracted in the following year.

In value terms, tractor imports contracted slightly to $X in 2022. Total imports indicated a measured increase from 2012 to 2022: its value increased at an average annual rate of +3.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +74.5% against 2019 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 57% against the previous year. As a result, imports reached the peak of $X, leveling off in the following year.

Imports by Country

The countries with the highest levels of tractor imports in 2022 were Nigeria (X units), Ghana (X units), Cote d'Ivoire (X units), Guinea (X units), Senegal (X units), Mali (X units), Togo (X units), Benin (X units), Niger (X units), Mauritania (X units) and Burkina Faso (X units), together finishing at 97% of total import.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Niger (with a CAGR of +24.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported tractors in Western Africa, comprising 32% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 15% share of total imports. It was followed by Ghana, with a 14% share.

In Nigeria, tractor imports expanded at an average annual rate of +1.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (+16.2% per year) and Ghana (-1.4% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, rising by 9.9% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2013 when the import price increased by 25%. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices stood 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 Burkina Faso ($X per unit), while Togo ($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 (+21.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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