ECOWAS: Market for Iron Or Steel Towers And Lattice Masts 2024

Exports of Iron Or Steel Towers And Lattice Masts

Exports in ECOWAS

In 2023, approx. X tons of iron or steel towers and lattice masts were exported in ECOWAS; jumping by X% compared with 2022 figures. Overall, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, iron or steel towers exports fell to $X in 2023. In general, exports, however, continue to indicate a abrupt slump. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, Niger (X tons) represented the major exporter of iron or steel towers and lattice masts, achieving X% of total exports. Burkina Faso (X tons) took the second position in the ranking, followed by Cote d'Ivoire (X tons), Nigeria (X tons) and Ghana (X tons). All these countries together took approx. X% share of total exports. Senegal (X tons) followed a long way behind the leaders.

Niger was also the fastest-growing in terms of the iron or steel towers and lattice masts exports, with a CAGR of X% from 2012 to 2023. At the same time, Burkina Faso (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%), Nigeria (X%), Senegal (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Niger and Burkina Faso increased by X and X percentage points, respectively.

In value terms, Niger ($X) remains the largest iron or steel towers supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

In Niger, iron or steel towers exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, dropping by X% against the previous year. In general, the export price recorded a pronounced shrinkage. The pace of growth was the most pronounced in 2020 when the export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2021 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Imports of Iron Or Steel Towers And Lattice Masts

Imports in ECOWAS

Iron or steel towers imports skyrocketed to X tons in 2023, rising by X% against 2022. Total imports indicated a measured increase from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the near future.

In value terms, iron or steel towers imports surged to $X in 2023. Total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2017 with an increase of X%. The level of import peaked in 2023 and is expected to retain growth in the immediate term.

Imports by Country

Nigeria (X tons) and Burkina Faso (X tons) represented roughly X% of total imports in 2023. It was distantly followed by Benin (X tons), Senegal (X tons), Cote d'Ivoire (X tons), Ghana (X tons), Guinea (X tons) and Mali (X tons), together creating a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest iron or steel towers importing markets in ECOWAS were Nigeria ($X), Burkina Faso ($X) and Benin ($X), together comprising X% of total imports.

In terms of the main importing countries, Benin, with a CAGR of X%, saw the highest rates of growth with regard to 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 2023, the import price in ECOWAS amounted to $X per ton, surging by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2023, 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 Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Nigeria (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform