Western Africa: Water-Skis And Surfboards Market 2024

Water-Skis And Surfboards Market Size in Western Africa

The West African water-skis and surfboards market totaled $X in 2022, approximately equating the previous year. The total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -0.9% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Water-Skis And Surfboards Production in Western Africa

In value terms, water-skis and surfboards production totaled $X in 2022 estimated in export price. The total production indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -0.3% against 2020 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 23% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Water-Skis And Surfboards Exports

Exports in Western Africa

After two years of decline, shipments abroad of water-skis, surfboards and sailboards increased by 8.2% to X units in 2022. Overall, exports, however, continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2014 when exports increased by 133%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, water-skis and surfboards exports reached $X in 2022. In general, exports, however, continue to indicate a mild setback. The most prominent rate of growth was recorded in 2014 with an increase of 144% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Sierra Leone was the largest exporter of water-skis, surfboards and sailboards in Western Africa, with the volume of exports accounting for X units, which was approx. 56% of total exports in 2022. Senegal (X units) ranks second in terms of the total exports with a 21% share, followed by Nigeria (5.5%) and Togo (4.6%). The following exporters - Cabo Verde (X units), Ghana (X units) and Gambia (X units) - together made up 10% of total exports.

Exports from Sierra Leone increased at an average annual rate of +21.8% from 2012 to 2022. At the same time, Ghana (+46.6%), Senegal (+17.1%) and Togo (+8.5%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +46.6% from 2012-2022. Gambia experienced a relatively flat trend pattern. By contrast, Cabo Verde (-16.8%) and Nigeria (-29.2%) illustrated a downward trend over the same period. Sierra Leone (+54 p.p.), Senegal (+20 p.p.), Togo (+4.1 p.p.), Ghana (+3.3 p.p.) and Gambia (+2.2 p.p.) significantly strengthened its position in terms of the total exports, while Cabo Verde and Nigeria saw its share reduced by -3% and -42.6% from 2012 to 2022, respectively.

In value terms, Sierra Leone ($X) remains the largest water-skis and surfboards supplier in Western Africa, comprising 60% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a 6.2% share of total exports. It was followed by Senegal, with a 5.7% share.

In Sierra Leone, water-skis and surfboards exports expanded at an average annual rate of +23.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cabo Verde (-6.2% per year) and Senegal (+16.4% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, rising by 4.1% against the previous year. In general, the export price showed resilient growth. The growth pace was the most rapid in 2020 an increase of 93% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+12.8%), while the other leaders experienced more modest paces of growth.

Water-Skis And Surfboards Imports

Imports in Western Africa

In 2022, approx. X units of water-skis, surfboards and sailboards were imported in Western Africa; with an increase of 102% on the previous year. Overall, imports posted strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by 237% against the previous year. The volume of import peaked at X units in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, water-skis and surfboards imports contracted to $X in 2022. Over the period under review, imports continue to indicate mild growth. The most prominent rate of growth was recorded in 2019 with an increase of 76%. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria prevails in imports structure, accounting for X units, which was near 74% of total imports in 2022. Senegal (X units) held a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (4.8%). The following importers - Cote d'Ivoire (X units), Togo (X units) and Cabo Verde (X units) - together made up 7% of total imports.

Nigeria was also the fastest-growing in terms of the water-skis, surfboards and sailboards imports, with a CAGR of +24.8% from 2012 to 2022. At the same time, Senegal (+13.4%), Cote d'Ivoire (+6.2%) and Cabo Verde (+2.7%) displayed positive paces of growth. By contrast, Ghana (-1.3%) and Togo (-2.7%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria increased by +40 percentage points.

In value terms, the largest water-skis and surfboards importing markets in Western Africa were Senegal ($X), Cote d'Ivoire ($X) and Togo ($X), with a combined 51% share of total imports.

Among the main importing countries, Senegal, with a CAGR of +9.6%, recorded the highest growth rate of 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, waning by -53.5% against the previous year. In general, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2021 when the import price increased by 148%. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, 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 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 Cote d'Ivoire (+2.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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