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Report ECOWAS - Gold, in Semi-Manufactured Forms - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Gold, in Semi-Manufactured Forms - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Semi-Manufactured Gold Market 2024

Semi-Manufactured Gold Market Size in ECOWAS

After five years of decline, the ECOWAS semi-manufactured gold market increased by 73% to $X in 2022. Overall, consumption saw modest growth. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Semi-Manufactured Gold Production in ECOWAS

In value terms, semi-manufactured gold production reduced slightly to $X in 2022 estimated in export price. The total production indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +89.8% against 2014 indices. The most prominent rate of growth was recorded in 2016 with an increase of 26%. The level of production peaked at $X in 2021, and then declined slightly in the following year.

Semi-Manufactured Gold Exports

Exports in ECOWAS

After five years of growth, overseas shipments of gold, in semi-manufactured forms decreased by -5.9% to X tons in 2022. Over the period under review, exports, however, showed a moderate expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 111%. The volume of export peaked at X tons in 2021, and then declined in the following year.

In value terms, semi-manufactured gold exports fell to $X in 2022. Overall, exports, however, posted a perceptible expansion. The pace of growth appeared the most rapid in 2019 when exports increased by 134%. The level of export peaked at $X in 2021, and then reduced in the following year.

Exports by Country

In 2022, Ghana (X tons) represented the largest exporter of gold, in semi-manufactured forms, achieving 69% of total exports. It was distantly followed by Burkina Faso (X tons), constituting a 28% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to semi-manufactured gold exports from Ghana stood at +1.2%. At the same time, Burkina Faso (+5.4%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +5.4% from 2012-2022. From 2012 to 2022, the share of Burkina Faso increased by +6.8 percentage points.

In value terms, the largest semi-manufactured gold supplying countries in ECOWAS were Ghana ($X) and Burkina Faso ($X).

In terms of the main exporting countries, Burkina Faso, with a CAGR of +8.5%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per kg, remaining constant against the previous year. Export price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, semi-manufactured gold export price increased by +33.9% against 2018 indices. The pace of growth was the most pronounced in 2016 an increase of 23%. Over the period under review, the export prices hit record highs at $X per kg in 2021, and then declined slightly in the following year.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per kg), while Ghana totaled $X per kg.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+2.9%).

Semi-Manufactured Gold Imports

Imports in ECOWAS

In 2022, supplies from abroad of gold, in semi-manufactured forms increased by 4,613% to X tons for the first time since 2019, thus ending a two-year declining trend. Overall, imports saw a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, semi-manufactured gold imports skyrocketed to $X in 2022. Over the period under review, imports, however, showed a relatively flat trend pattern. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Benin (X tons) represented roughly 98% of total imports in 2022.

Benin was also the fastest-growing in terms of the gold, in semi-manufactured forms imports, with a CAGR of +124.1% from 2012 to 2022. Benin (+97 p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Benin ($X) constitutes the largest market for imported gold, in semi-manufactured forms in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Benin totaled +104.1%.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per kg, reducing by -89.2% against the previous year. Overall, the import price recorded a sharp decline. The pace of growth appeared the most rapid in 2017 when the import price increased by 11%. Over the period under review, import prices reached the peak figure at $X per kg in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Benin.

From 2012 to 2022, the rate of growth in terms of prices for Benin amounted to -8.9% per year.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The countries with the highest volumes of consumption in 2022 were Ghana, Burkina Faso and Guinea, together accounting for 84% of total consumption. Niger, Benin and Senegal lagged somewhat behind, together comprising a further 14%.
Ghana constituted the country with the largest volume of semi-manufactured gold production, comprising approx. 66% of total volume. Moreover, semi-manufactured gold production in Ghana exceeded the figures recorded by the second-largest producer, Burkina Faso, twofold. The third position in this ranking was taken by Guinea, with a 3.1% share.
In value terms, the largest semi-manufactured gold supplying countries in ECOWAS were Ghana and Burkina Faso.
In value terms, Benin constitutes the largest market for imported gold, in semi-manufactured forms in ECOWAS.
In 2022, the export price in ECOWAS amounted to $51,985 per kg, standing approx. at the previous year.
The import price in ECOWAS stood at $2,107 per kg in 2022, declining by -89.2% against the previous year.

This report provides an in-depth analysis of the semi-manufactured gold market in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • Prodcom 24412050 - Gold, in semi-manufactured forms for non-monetary use (including plated with platinum) (excluding unwrought or in powder form)

Country coverage:

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Production in ECOWAS, split by region and country
  • Trade (exports and imports) in ECOWAS
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

    This Chapter is Available Only for the Professional Edition PRO

  11. 11. COUNTRY PROFILES

    The Largest Markets And Their Profiles

    This Chapter is Available Only for the Professional Edition PRO
    • Benin
    • Burkina Faso
    • Cabo Verde
    • Gambia
    • Ghana
    • Guinea
    • Guinea-Bissau
    • Liberia
    • Mali
    • Niger
    • Nigeria
    • Senegal
    • Sierra Leone
    • Togo
    • Cote d'Ivoire

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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