ECOWAS: Candles And Tapers Market 2024

Candles And Tapers Market Size in ECOWAS

The ECOWAS candles and tapers market rose to $X in 2022, picking up by X% against the previous year. In general, consumption posted a strong increase. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Candles And Tapers Production in ECOWAS

In value terms, candles and tapers production expanded slightly to $X in 2022 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth failed to regain momentum.

Candles And Tapers Exports

Exports in ECOWAS

In 2022, overseas shipments of candles and tapers were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, recorded a deep downturn. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, candles and tapers exports dropped remarkably to $X in 2022. Over the period under review, exports, however, faced a precipitous contraction. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the key exporting country with an export of around X tons, which amounted to X% of total exports. It was distantly followed by Benin (X tons) and Ghana (X tons), together making up a X% share of total exports. Gambia (X kg) followed a long way behind the leaders.

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

In value terms, Cote d'Ivoire ($X) remains the largest candles and tapers supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

In Cote d'Ivoire, candles and tapers exports contracted by an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the export price saw a deep slump. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Gambia ($X per ton), while Benin ($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 a decline in the export price figures.

Candles And Tapers Imports

Imports in ECOWAS

In 2022, purchases abroad of candles and tapers was finally on the rise to reach X tons after three years of decline. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth appeared the most rapid in 2018 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, candles and tapers imports expanded markedly to $X in 2022. Overall, imports, however, saw a abrupt downturn. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria represented the key importer of candles and tapers in ECOWAS, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons), Gambia (X tons), Benin (X tons) and Togo (X tons), together creating a X% share of total imports. Cabo Verde (X tons), Cote d'Ivoire (X tons) and Sierra Leone (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to candles and tapers imports into Nigeria stood at X%. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Cabo Verde experienced a relatively flat trend pattern. By contrast, Benin (X%), Ghana (X%), Gambia (X%), Sierra Leone (X%) and Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Benin (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest candles and tapers importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Gambia ($X), together comprising X% of total imports. Benin, Cote d'Ivoire, Togo, Sierra Leone and Cabo Verde lagged somewhat behind, together comprising a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, standing approx. at the previous year. In general, the import price, however, saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat 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 ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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