ECOWAS: Disc Harrow Market 2024

Disc Harrow Market Size in ECOWAS

The ECOWAS disc harrow market shrank to $X in 2022, waning by X% against the previous year. In general, consumption continues to indicate a deep downturn. As a result, consumption reached the peak level of $X. From 2015 to 2022, the growth of the market failed to regain momentum.

Disc Harrow Production in ECOWAS

In value terms, disc harrow production shrank to $X in 2022 estimated in export price. Overall, production showed a abrupt descent. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Disc Harrow Exports

Exports in ECOWAS

After two years of growth, shipments abroad of disc harrows decreased by X% to X units in 2022. In general, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, disc harrow exports reduced markedly to $X in 2022. Over the period under review, exports recorded a abrupt shrinkage. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

In 2022, Ghana (X units) was the key exporter of disc harrows, constituting X% of total exports. Senegal (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Cote d'Ivoire (X%), Mali (X%), Togo (X%) and Burkina Faso (X%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Togo (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Togo, Mali and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries 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 unit in 2022, waning by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained 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 Senegal ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Disc Harrow Imports

Imports in ECOWAS

In 2022, after five years of growth, there was significant decline in purchases abroad of disc harrows, when their volume decreased by X% to X units. Overall, imports, however, recorded a significant expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then dropped remarkably in the following year.

In value terms, disc harrow imports fell markedly to $X in 2022. Over the period under review, imports, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The level of import peaked at $X in 2021, and then declined remarkably in the following year.

Imports by Country

Nigeria was the largest importing country with an import of around X units, which accounted for X% of total imports. It was distantly followed by Cote d'Ivoire (X units), achieving a X% share of total imports. Ghana (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to disc harrow imports into Nigeria stood at X%. At the same time, Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported disc harrows in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports.

In Nigeria, disc harrow imports expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, recorded a abrupt setback. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, 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 Ghana ($X per unit), while Cote d'Ivoire ($X per unit) 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 import price figures.

Source: IndexBox Platform

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