ECOWAS: Files And Rasps Market 2024

Files And Rasps Market Size in ECOWAS

For the third consecutive year, the ECOWAS files and rasps market recorded growth in sales value, which increased by 15% to $X in 2022. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +140.7% against 2017 indices. Over the period under review, the market attained the maximum level in 2022 and is expected to retain growth in years to come.

Files And Rasps Production in ECOWAS

In value terms, files and rasps production shrank to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 38% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Files And Rasps Exports

Exports in ECOWAS

Files and rasps exports totaled X units in 2022, growing by 8.9% against 2021 figures. Overall, exports, however, recorded a sharp setback. The pace of growth was the most pronounced in 2018 when exports increased by 135%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, files and rasps exports soared to $X in 2022. Over the period under review, exports, however, recorded a precipitous contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 64%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Guinea (X units) and Nigeria (X units) represented the major exporters of files, rasps and similar tools in ECOWAS, together creating 72% of total exports. Benin (X units) ranks next in terms of the total exports with an 11% share, followed by Togo (9.1%). The following exporters - Ghana (X units) and Cote d'Ivoire (X units) - each reached a 7.4% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of +29.7%), while the other leaders experienced more modest paces of growth.

In value terms, the largest files and rasps supplying countries in ECOWAS were Guinea ($X), Ghana ($X) and Nigeria ($X), with a combined 84% share of total exports. These countries were followed by Benin, Cote d'Ivoire and Togo, which together accounted for a further 15%.

Among the main exporting countries, Benin, with a CAGR of +37.9%, 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

In 2022, the export price in ECOWAS amounted to $X per unit, with an increase of 8.1% against the previous year. Over the period under review, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when the export price increased by 205% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 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 Ghana ($X per unit), while Togo ($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 (+21.8%), while the other leaders experienced more modest paces of growth.

Files And Rasps Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded growth in purchases abroad of files, rasps and similar tools, which increased by 18% to X units in 2022. Over the period under review, imports saw a strong increase. The growth pace was the most rapid in 2015 when imports increased by 49%. Over the period under review, imports attained the maximum in 2022 and are likely to continue growth in the immediate term.

In value terms, files and rasps imports shrank to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.9% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 63% against the previous year. The level of import peaked at $X in 2021, and then shrank in the following year.

Imports by Country

Cote d'Ivoire (X units) and Nigeria (X units) dominates imports structure, together comprising 79% of total imports. Mali (X units) held the next position in the ranking, followed by Ghana (X units). All these countries together took near 11% share of total imports. Guinea (X units) and Liberia (X units) took a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +44.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported files, rasps and similar tools in ECOWAS, comprising 48% of total imports. The second position in the ranking was held by Ghana ($X), with a 16% share of total imports. It was followed by Nigeria, with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire was relatively modest. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+12.9% per year) and Nigeria (-1.3% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, which is down by -22.4% against the previous year. Over the period under review, the import price continues to indicate a noticeable shrinkage. The most prominent rate of growth was recorded in 2016 when the import price increased by 30%. The level of import peaked at $X per unit in 2014; however, from 2015 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 ($X per unit), while Nigeria ($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 (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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