ECOWAS: Agricultural Harvester Market 2024

Agricultural Harvester Market Size in ECOWAS

The ECOWAS agricultural harvester market totaled $X in 2023, remaining stable against the previous year. The total consumption indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption attained the peak level of $X. From 2022 to 2023, the growth of the market failed to regain momentum.

Agricultural Harvester Production in ECOWAS

In value terms, agricultural harvester production reached $X in 2023 estimated in export price. The total production indicated tangible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Agricultural Harvester Exports

Exports in ECOWAS

In 2023, approx. X units of agricultural harvesters were exported in ECOWAS; shrinking by X% compared with the year before. In general, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2019 when exports increased by X% against the previous year. The volume of export peaked at X units in 2022, and then reduced in the following year.

In value terms, agricultural harvester exports shrank to $X in 2023. Overall, exports showed a perceptible setback. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports attained the peak of $X. From 2021 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal represented the major exporting country with an export of about X units, which resulted at X% of total exports. Sierra Leone (X units) ranks second in terms of the total exports with a X% share, followed by Niger (X%), Ghana (X%) and Mali (X%). Cote d'Ivoire (X units), Benin (X units) and Togo (X units) held a relatively small share of total exports.

Senegal was also the fastest-growing in terms of the agricultural harvesters exports, with a CAGR of X% from 2012 to 2023. At the same time, Niger (X%) displayed positive paces of growth. Sierra Leone and Togo experienced a relatively flat trend pattern. By contrast, Ghana (X%), Cote d'Ivoire (X%), Mali (X%) and Benin (X%) illustrated a downward trend over the same period. Senegal (X p.p.), Niger (X p.p.), Benin (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, Ghana, Sierra Leone and Mali saw its share reduced by X%, X%, X% and X% from 2012 to 2023, respectively.

In value terms, Senegal ($X) remains the largest agricultural harvester supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Niger ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

In Senegal, agricultural harvester exports increased at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Niger (X% per year) and Togo (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2023, reducing by X% against the previous year. Over the period under review, the export price recorded a abrupt slump. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced a decline in the export price figures.

Agricultural Harvester Imports

Imports in ECOWAS

In 2023, supplies from abroad of agricultural harvesters increased by X% to X units for the first time since 2020, thus ending a two-year declining trend. Overall, imports showed a strong expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2023, imports remained at a lower figure.

In value terms, agricultural harvester imports declined to $X in 2023. Over the period under review, imports saw buoyant growth. The most prominent rate of growth was recorded in 2017 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2021; however, from 2022 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria (X units) and Ghana (X units) represented the key importers of agricultural harvesters in 2023, recording near X% and X% of total imports, respectively. It was distantly followed by Benin (X units) and Cote d'Ivoire (X units), together creating a X% share of total imports. The following importers - Senegal (X units), Burkina Faso (X units) and Mali (X units) - each resulted at a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural harvester importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Senegal, Benin, Mali and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Benin, with a CAGR of X%, 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

In 2023, the import price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. In general, the import price showed a noticeable decrease. The pace of growth was the most pronounced in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform