Western Africa: Winding Wire Market 2025

Winding Wire Exports

Exports in Western Africa

In 2022, overseas shipments of winding wire for electrical purposes increased by 99.9% to X tons, rising for the second year in a row after three years of decline. In general, exports recorded a strong increase. The volume of export peaked at X tons in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, winding wire exports skyrocketed to $X in 2022. Over the period under review, exports showed notable growth. The growth pace was the most rapid in 2014 with an increase of 125% against the previous year. Over the period under review, the exports attained the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Ghana was the largest exporting country with an export of about X tons, which amounted to 61% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Burkina Faso (X tons) and Nigeria (X tons), together mixing up a 30% share of total exports. The following exporters - Mauritania (X tons) and Togo (X tons) - together made up 4.7% of total exports.

Exports from Ghana increased at an average annual rate of +18.3% from 2012 to 2022. At the same time, Burkina Faso (+20.5%), Cote d'Ivoire (+18.7%), Nigeria (+9.0%) and Mauritania (+8.8%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +20.5% from 2012-2022. By contrast, Togo (-4.0%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Cote d'Ivoire and Burkina Faso increased by +39, +9.2 and +6.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Mauritania ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 85% share of total exports.

Among the main exporting countries, Cote d'Ivoire, with a CAGR of +29.6%, saw the highest rates of growth with regard to 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 ton, dropping by -21.2% against the previous year. Over the period under review, the export price saw a perceptible setback. The most prominent rate of growth was recorded in 2021 an increase of 63% against the previous year. Over the period under review, the export prices reached the peak figure at $X per ton in 2014; however, from 2015 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 Mauritania ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mauritania (+12.3%), while the other leaders experienced more modest paces of growth.

Winding Wire Imports

Imports in Western Africa

In 2022, overseas purchases of winding wire for electrical purposes increased by 424% to X tons, rising for the third consecutive year after two years of decline. In general, imports enjoyed significant growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, winding wire imports skyrocketed to $X in 2022. Over the period under review, imports enjoyed strong growth. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Senegal represented the largest importer of winding wire for electrical purposes in Western Africa, with the volume of imports recording X tons, which was approx. 73% of total imports in 2022. It was distantly followed by Nigeria (X tons), making up a 13% share of total imports. The following importers - Ghana (X tons), Guinea (X tons) and Cote d'Ivoire (X tons) - together made up 7.5% of total imports.

Senegal was also the fastest-growing in terms of the winding wire for electrical purposes imports, with a CAGR of +90.8% from 2012 to 2022. At the same time, Cote d'Ivoire (+31.9%), Nigeria (+16.1%), Guinea (+11.0%) and Ghana (+6.1%) displayed positive paces of growth. From 2012 to 2022, the share of Senegal increased by +73 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported winding wire for electrical purposes in Western Africa, comprising 41% of total imports. The second position in the ranking was taken by Senegal ($X), with a 13% share of total imports. It was followed by Ghana, with a 12% share.

In Nigeria, winding wire imports expanded at an average annual rate of +14.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (+43.1% per year) and Ghana (+4.7% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, falling by -66.9% against the previous year. Overall, the import price continues to indicate a deep reduction. The growth pace was the most rapid in 2015 an increase of 42%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices remained at a 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 Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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