ECOWAS: Gin And Geneva Market 2023

Gin And Geneva Market Size in ECOWAS

The ECOWAS gin and geneva market contracted dramatically to $X in 2022, shrinking by -17% against the previous year. In general, consumption saw a mild contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption remained at a lower figure.

Gin And Geneva Production in ECOWAS

In value terms, gin and geneva production fell dramatically to $X in 2022 estimated in export price. Overall, production saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of 142%. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Gin And Geneva Exports

Exports in ECOWAS

In 2022, gin and geneva exports in ECOWAS declined significantly to X litres, dropping by -19.4% compared with 2021 figures. Over the period under review, exports showed a abrupt contraction. The most prominent rate of growth was recorded in 2016 with an increase of 192%. Over the period under review, the exports reached the maximum at X litres in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, gin and geneva exports reduced to $X in 2022. Overall, exports saw a precipitous decline. The most prominent rate of growth was recorded in 2016 with an increase of 84% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, finishing at X litres, which was near 88% of total exports in 2022. It was distantly followed by Ghana (X litres), constituting a 7.3% share of total exports. Nigeria (X litres) held a minor share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the gin and geneva exports, with a CAGR of +36.3% from 2012 to 2022. At the same time, Nigeria (+18.0%) displayed positive paces of growth. By contrast, Ghana (-31.7%) illustrated a downward trend over the same period. Cote d'Ivoire (+87 p.p.) and Nigeria (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -90.7% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X) remains the largest gin and geneva supplier in ECOWAS, comprising 87% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 3.3% share of total exports.

In Cote d'Ivoire, gin and geneva exports expanded at an average annual rate of +32.9% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+34.7% per year) and Ghana (-45.5% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per litre in 2022, picking up by 7.5% against the previous year. Over the period under review, the export price, however, continues to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2020 an increase of 173%. The level of export peaked at $X per litre in 2012; however, from 2013 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 Nigeria ($X per litre), while Ghana ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (+14.1%), while the other leaders experienced a decline in the export price figures.

Gin And Geneva Imports

Imports in ECOWAS

Gin and geneva imports fell slightly to X litres in 2022, with a decrease of -4% compared with 2021 figures. Total imports indicated a pronounced expansion from 2012 to 2022: its volume increased at an average annual rate of +4.7% 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 +71.5% against 2020 indices. The most prominent rate of growth was recorded in 2021 with an increase of 79%. As a result, imports attained the peak of X litres, and then contracted modestly in the following year.

In value terms, gin and geneva imports reduced to $X in 2022. Over the period under review, imports saw a drastic downturn. The growth pace was the most rapid in 2021 when imports increased by 48% against the previous year. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Togo (X litres), Ghana (X litres) and Burkina Faso (X litres) represented the major importer of gin and geneva in ECOWAS, comprising 86% of total import. Cote d'Ivoire (X litres), Benin (X litres) and Niger (X litres) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of +27.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest gin and geneva importing markets in ECOWAS were Togo ($X), Ghana ($X) and Benin ($X), together comprising 79% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +17.2%, recorded the highest growth rate of the value of imports, 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 litre, which is down by -11% against the previous year. In general, the import price recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 an increase of 25%. Over the period under review, import prices attained the maximum at $X per litre in 2012; however, from 2013 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 Benin ($X per litre), while Burkina Faso ($X per litre) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Market Intelligence Platform

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