ECOWAS: Hand Tools Market 2024

Hand Tools Market Size in ECOWAS

The ECOWAS hand tools market stood at $X in 2022, approximately mirroring the previous year. The total consumption indicated a perceptible expansion from 2012 to 2022: its value 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, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Hand Tools Production in ECOWAS

In value terms, hand tools production contracted modestly to $X in 2022 estimated in export price. In general, production saw a buoyant expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Hand Tools Exports

Exports in ECOWAS

In 2022, exports of hand tools in ECOWAS fell rapidly to X tons, with a decrease of X% compared with 2021. In general, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, hand tools exports surged to $X in 2022. Overall, exports saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) dominates exports structure, together making up X% of total exports. It was distantly followed by Burkina Faso (X tons), Nigeria (X tons), Senegal (X tons) and Guinea (X tons), together mixing up a X% share of total exports. Benin (X tons) took a minor share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X) emerged as the largest hand tools supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Guinea, with an X% share.

In Senegal, hand tools exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Guinea (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price showed a buoyant expansion. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 ($X per ton), while Cote d'Ivoire ($X per ton) 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.

Hand Tools Imports

Imports in ECOWAS

In 2022, purchases abroad of hand tools decreased by X% to X tons, falling for the second year in a row after four years of growth. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, hand tools imports declined slightly to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value 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, imports increased by X% against 2017 indices. The pace of growth was the most pronounced in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then shrank slightly in the following year.

Imports by Country

Nigeria (X tons) and Ghana (X tons) represented the main importers of hand tools in 2022, amounting to approx. X% and X% of total imports, respectively. Cote d'Ivoire (X tons) took the next position in the ranking, followed by Senegal (X tons), Burkina Faso (X tons) and Guinea (X tons). All these countries together took near X% share of total imports. Benin (X tons) took a little share of total imports.

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 ($X) constitutes the largest market for imported hand tools in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Ghana, hand tools imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Import price indicated a mild 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, hand tools import price increased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 an increase of X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :