ECOWAS: Matches Market 2024

Matches Market Size in ECOWAS

In 2023, the ECOWAS matches market was finally on the rise to reach $X after two years of decline. In general, consumption, however, showed a perceptible descent. As a result, consumption attained the peak level of $X. From 2014 to 2023, the growth of the market failed to regain momentum.

Matches Production in ECOWAS

In value terms, matches production reached $X in 2023 estimated in export price. Overall, production, however, saw a perceptible slump. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, production reached the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Matches Exports

Exports in ECOWAS

In 2023, shipments abroad of matches was finally on the rise to reach X tons for the first time since 2018, thus ending a four-year declining trend. Over the period under review, exports, however, continue to indicate a noticeable decline. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2023, the exports stood at a somewhat lower figure.

In value terms, matches exports soared to $X in 2023. Overall, exports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Togo dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2023. It was distantly followed by Senegal (X tons), committing an X% share of total exports. Nigeria (X tons) and Ghana (X tons) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the matches exports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%) displayed positive paces of growth. By contrast, Nigeria (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

From 2012 to 2023, the average annual growth rate of value in Togo stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, declining by X% against the previous year. In general, the export price recorded a abrupt decline. The pace of growth was the most pronounced in 2020 when the export price increased by X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2023, 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 Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the export price figures.

Matches Imports

Imports in ECOWAS

In 2023, after two years of decline, there was significant growth in purchases abroad of matches, when their volume increased by X% to X tons. In general, imports, however, saw a perceptible slump. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2023, the growth of imports remained at a lower figure.

In value terms, matches imports expanded markedly to $X in 2023. Over the period under review, imports, however, recorded a noticeable shrinkage. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of $X. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2023, Nigeria (X tons), distantly followed by Ghana (X tons), Benin (X tons) and Togo (X tons) were the key importers of matches, together generating X% of total imports. Guinea (X tons), Niger (X tons), Gambia (X tons) and Liberia (X tons) held a little share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X) constitutes the largest market for imported matches in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Benin, with an X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Benin (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2023, waning by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2015 to 2023, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guinea ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform