ECOWAS: Market for Iron or Steel Hot-Worked Helical Springs 2024

Exports of Iron or Steel Hot-Worked Helical Springs

Exports in ECOWAS

After two years of growth, shipments abroad of iron or steel hot-worked helical springs decreased by X% to X tons in 2022. In general, exports, however, showed resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X tons, and then dropped rapidly in the following year.

In value terms, metal hot-worked helical spring exports shrank notably to $X in 2022. Over the period under review, exports, however, recorded resilient growth. The pace of growth was the most pronounced in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank sharply in the following year.

Exports by Country

Ghana was the major exporter of iron or steel hot-worked helical springs in ECOWAS, with the volume of exports recording X tons, which was approx. X% of total exports in 2022. Cote d'Ivoire (X kg) ranks second in terms of the total exports with a X% share, followed by Guinea (X%), Sierra Leone (X%) and Mali (X%).

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Guinea (X%), Cote d'Ivoire (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Cote d'Ivoire, Guinea, Mali and Sierra Leone increased by X, X, X and X percentage points, respectively.

In value terms, the largest metal hot-worked helical spring supplying countries in ECOWAS were Guinea ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total exports.

Cote d'Ivoire, with a CAGR of X%, recorded the highest rates of growth with regard to 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, with an increase of X% against the previous year. Overall, the export price, however, showed a pronounced setback. The pace of growth was the most pronounced in 2017 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Ghana ($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 mixed trends in the export price figures.

Imports of Iron or Steel Hot-Worked Helical Springs

Imports in ECOWAS

After two years of growth, purchases abroad of iron or steel hot-worked helical springs decreased by X% to X tons in 2022. Total imports indicated a notable increase from 2012 to 2022: its volume 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 2019 indices. The pace of growth appeared the most rapid in 2017 when imports increased by X%. The volume of import peaked at X tons in 2021, and then shrank sharply in the following year.

In value terms, metal hot-worked helical spring imports reduced rapidly to $X in 2022. In general, imports, however, posted a prominent increase. The growth pace was the most rapid in 2017 with an increase of X%. The level of import peaked at $X in 2021, and then declined rapidly in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Cote d'Ivoire (X tons) ranks next in terms of the total imports with a X% share, followed by Senegal (X%). The following importers - Guinea (X tons), Mali (X tons), Liberia (X tons) and Gambia (X tons) - together made up X% of total imports.

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

In value terms, the largest metal hot-worked helical spring importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Guinea, Senegal, Mali, Liberia and Gambia lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Mali, with a CAGR of X%, saw 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 ton, growing by X% against the previous year. Import price indicated a notable 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 hot-worked helical spring import price decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2016 an increase of X%. The level of import peaked at $X per ton in 2020; however, from 2021 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 Liberia ($X per ton), while Gambia ($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.

Source: IndexBox Platform

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