ECOWAS: Metal Hammer Market 2024

Metal Hammer Exports

Exports in ECOWAS

After two years of growth, overseas shipments of hammers and sledge hammers with working part of metal decreased by X% to X tons in 2022. Over the period under review, exports showed a abrupt slump. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, metal hammer exports plummeted to $X in 2022. In general, exports recorded a abrupt decrease. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the largest exporting country with an export of around X tons, which recorded X% of total exports. Ghana (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Benin (X%) and Burkina Faso (X%). Cote d'Ivoire (X kg) and Sierra Leone (X kg) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the hammers and sledge hammers with working part of metal exports, with a CAGR of X% from 2012 to 2022. At the same time, Sierra Leone (X%), Burkina Faso (X%), Cote d'Ivoire (X%) and Benin (X%) displayed positive paces of growth. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Benin, Burkina Faso, Cote d'Ivoire and Sierra Leone increased by X, X, X, X and X percentage points, respectively.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Burkina Faso, Sierra Leone and Benin lagged somewhat behind, together accounting for a further X%.

Sierra Leone, 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

In 2022, the export price in ECOWAS amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Metal Hammer Imports

Imports in ECOWAS

In 2022, purchases abroad of hammers and sledge hammers with working part of metal decreased by X% to X tons, falling for the second consecutive year after two years of growth. In general, imports continue to indicate a abrupt decline. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, metal hammer imports dropped markedly to $X in 2022. Over the period under review, imports showed a perceptible decline. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented the main importers of hammers and sledge hammers with working part of metal in 2022, amounting to near X% and X% of total imports, respectively. Cote d'Ivoire (X tons) held the next position in the ranking, distantly followed by Guinea (X tons) and Senegal (X tons). All these countries together took approx. X% share of total imports. Mali (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

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

In value terms, Ghana ($X) constitutes the largest market for imported hammers and sledge hammers with working part of metal in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with a X% share of total imports. It was followed by Nigeria, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, metal hammer import price increased by X% against 2018 indices. The pace of growth was the most pronounced in 2021 when the import price increased by X%. Over the period under review, import prices hit record highs in 2022 and is expected to retain growth in years to come.

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 Guinea ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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