Western Africa: Bracelet Market 2025

Bracelet Market Size in Western Africa

After two years of growth, the West African bracelet market decreased by -3.2% to $X in 2022. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Bracelet Production in Western Africa

In value terms, bracelet production expanded to $X in 2022 estimated in export price. Overall, production showed a resilient increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 53% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Bracelet Exports

Exports in Western Africa

In 2022, exports of watch straps, bands and bracelets in Western Africa shrank notably to X units, with a decrease of -38.6% against the previous year. Overall, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2019 with an increase of 190% against the previous year. Over the period under review, the exports reached the maximum at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, bracelet exports shrank notably to $X in 2022. In general, exports continue to indicate a noticeable descent. The pace of growth appeared the most rapid in 2015 when exports increased by 506%. Over the period under review, the exports hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, recording X units, which was near 65% of total exports in 2022. It was distantly followed by Togo (X units), Mauritania (X units), Mali (X units) and Ghana (X units), together constituting a 30% share of total exports. Senegal (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to bracelet exports from Nigeria stood at -6.7%. At the same time, Mauritania (+1.6%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +1.6% from 2012-2022. Ghana experienced a relatively flat trend pattern. By contrast, Senegal (-6.0%), Mali (-8.9%) and Togo (-23.2%) illustrated a downward trend over the same period. Togo (+9.1 p.p.), Mauritania (+4.2 p.p.) and Ghana (+2.4 p.p.) significantly strengthened its position in terms of the total exports, while Mali and Nigeria saw its share reduced by -3.2% and -11% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bracelet supplying countries in Western Africa were Nigeria ($X), Mali ($X) and Mauritania ($X), together accounting for 81% of total exports. Ghana, Senegal and Togo lagged somewhat behind, together accounting for a further 12%.

Among the main exporting countries, Ghana, with a CAGR of +19.9%, saw the highest growth rate of the value of exports, 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, increasing by 3.1% against the previous year. Over the period under review, the export price showed pronounced growth. The most prominent rate of growth was recorded in 2015 when the export price increased by 299%. Over the period under review, the export prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+19.8%), while the other leaders experienced more modest paces of growth.

Bracelet Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded decline in supplies from abroad of watch straps, bands and bracelets, which decreased by -24.6% to X units in 2022. Overall, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2019 with an increase of 188% against the previous year. The volume of import peaked at X units in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, bracelet imports dropped remarkably to $X in 2022. Over the period under review, imports saw a drastic downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 70% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Nigeria (X units) and Cote d'Ivoire (X units) represented the largest importers of watch straps, bands and bracelets in Western Africa, together mixing up 61% of total imports. It was distantly followed by Ghana (X units), Niger (X units), Senegal (X units) and Togo (X units), together generating a 30% share of total imports. Mauritania (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of +54.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest bracelet importing markets in Western Africa were Cote d'Ivoire ($X), Niger ($X) and Ghana ($X), with a combined 56% share of total imports.

In terms of the main importing countries, Niger, with a CAGR of +40.6%, recorded the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per unit in 2022, surging by 9.5% against the previous year. In general, the import price showed a prominent expansion. The most prominent rate of growth was recorded in 2016 when the import price increased by 944%. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the import prices failed to regain momentum.

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 Niger ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+10.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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