ECOWAS: Base Metal Hook Market 2024

Base Metal Hook Market Size in ECOWAS

In 2022, the ECOWAS base metal hook market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a deep setback. Over the period under review, the market attained the peak level at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Base Metal Hook Production in ECOWAS

In value terms, base metal hook production shrank to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, production reached the peak level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

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Base Metal Hook Exports

Exports in ECOWAS

In 2022, approx. X kg of base metal hooks, eyes and eyelets were exported in ECOWAS; growing by X% compared with the previous year. In general, exports, however, faced a abrupt decrease. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, base metal hook exports shrank notably to $X in 2022. Over the period under review, exports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Burkina Faso was the major exporter of base metal hooks, eyes and eyelets in ECOWAS, with the volume of exports amounting to X kg, which was near X% of total exports in 2022. Nigeria (X kg) ranks second in terms of the total exports with a X% share, followed by Ghana (X%). Senegal (X kg) followed a long way behind the leaders.

Burkina Faso was also the fastest-growing in terms of the base metal hooks, eyes and eyelets exports, with a CAGR of X.7% from 2012 to 2022. At the same time, Ghana (X%) displayed positive paces of growth. By contrast, Nigeria (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Burkina Faso and Ghana increased by X and X percentage points, respectively.

In value terms, the largest base metal hook supplying countries in ECOWAS were Ghana ($X), Nigeria ($X) and Burkina Faso ($X), together comprising X% of total exports.

Among the main exporting countries, Ghana, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, waning by X% against the previous year. Overall, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2020 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2021 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 Senegal ($X per ton), while Burkina Faso ($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 (X%), while the other leaders experienced more modest paces of growth.

Base Metal Hook Imports

Imports in ECOWAS

In 2022, supplies from abroad of base metal hooks, eyes and eyelets decreased by X% to X tons, falling for the second consecutive year after four years of growth. Overall, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, base metal hook imports shrank notably to $X in 2022. Over the period under review, imports faced a drastic downturn. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of around X tons, which amounted to X% of total imports. It was distantly followed by Ghana (X tons), comprising a X% share of total imports. Cote d'Ivoire (X tons) and Senegal (X tons) held a little share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Senegal and Cote d'Ivoire increased by X, X and X percentage points, respectively.

In value terms, Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal lagged somewhat behind, accounting for a further X%.

Among the main importing countries, Senegal, 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 a decline in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the import price continues to indicate a modest expansion. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Nigeria ($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 (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform