ECOWAS: Market for Non-Silver Precious Metal Non-Jewelry Articles 2024

Market Size for Non-Silver Precious Metal Non-Jewelry Articles in ECOWAS

After two years of growth, the ECOWAS market for non-silver precious metal non-jewelry articles decreased by X% to $X in 2022. Overall, consumption recorded a perceptible increase. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Non-Silver Precious Metal Non-Jewelry Articles in ECOWAS

In value terms, non-silver precious metal non-jewelry article production skyrocketed 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 X% 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 X% against 2013 indices. As a result, production attained the peak level and is likely to continue growth in the immediate term.

Exports of Non-Silver Precious Metal Non-Jewelry Articles

Exports in ECOWAS

Non-silver precious metal non-jewelry article exports skyrocketed to X kg in 2022, picking up by X% on the previous year's figure. Over the period under review, exports, however, showed a deep reduction. The growth pace was the most rapid in 2018 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, non-silver precious metal non-jewelry article exports skyrocketed to $X in 2022. In general, exports, however, showed a sharp contraction. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Senegal (X kg) represented the major exporter of non-silver precious metal non-jewelry articles, making up X% of total exports. It was distantly followed by Ghana (X kg), constituting a X% share of total exports. The following exporters - Cabo Verde (X kg), Cote d'Ivoire (X kg) and Nigeria (X kg) - each finished at a X% share of total exports.

Senegal was also the fastest-growing in terms of the non-silver precious metal non-jewelry articles exports, with a CAGR of X% from 2012 to 2022. Cabo Verde experienced a relatively flat trend pattern. Nigeria (X%), Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. Senegal (X p.p.) and Cabo Verde (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X), Senegal ($X) and Nigeria ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Among the main exporting countries, Senegal, with a CAGR of X%, recorded 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

The export price in ECOWAS stood at $X per kg in 2022, which is down by X% against the previous year. In general, the export price showed a precipitous setback. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per kg in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 Nigeria ($X per kg), while Cabo Verde ($X per kg) was amongst the lowest.

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

Imports of Non-Silver Precious Metal Non-Jewelry Articles

Imports in ECOWAS

Non-silver precious metal non-jewelry article imports surged to X kg in 2022, growing by X% against the previous year's figure. Overall, imports enjoyed resilient growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, non-silver precious metal non-jewelry article imports soared to $X in 2022. In general, imports, however, continue to indicate a abrupt descent. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, Nigeria (X kg) and Guinea (X kg) represented the key importers of non-silver precious metal non-jewelry articles in ECOWAS, together committing X% of total imports. Ghana (X kg) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%) and Gambia (X%). The following importers - Benin (X kg) and Senegal (X kg) - each finished at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per kg, waning by X% against the previous year. Over the period under review, the import price recorded a deep reduction. The growth pace was the most rapid in 2014 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per kg. From 2015 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 Senegal ($X per kg), while Benin ($X per kg) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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