ECOWAS: Memories Market 2024

Memories Market Size in ECOWAS

The ECOWAS memories market expanded slightly to $X in 2023, rising by X% against the previous year. Overall, consumption, however, saw a abrupt curtailment. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Memories Production in ECOWAS

In value terms, memories production rose slightly to $X in 2023 estimated in export price. Overall, production, however, saw a abrupt decrease. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2023, production stood at a somewhat lower figure.

Memories Exports

Exports in ECOWAS

In 2023, the amount of multichip integrated circuits: memories exported in ECOWAS dropped notably to X units, which is down by X% compared with 2022 figures. In general, exports continue to indicate a deep reduction. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2014 to 2023, the growth of the exports failed to regain momentum.

In value terms, memories exports dropped remarkably to $X in 2023. Over the period under review, exports showed a deep setback. The pace of growth was the most pronounced in 2015 when exports increased by X%. Over the period under review, the exports attained the peak figure at $X in 2013; however, from 2014 to 2023, the exports remained at a lower figure.

Exports by Country

Nigeria was the largest exporter of multichip integrated circuits: memories in ECOWAS, with the volume of exports accounting for X units, which was approx. X% of total exports in 2023. Senegal (X units) ranks second in terms of the total exports with an X% share, followed by Sierra Leone (X%), Mali (X%), Cote d'Ivoire (X%) and Niger (X%). Gambia (X units) took a little share of total exports.

Nigeria was also the fastest-growing in terms of the multichip integrated circuits: memories exports, with a CAGR of X% from 2012 to 2023. At the same time, Sierra Leone (X%) displayed positive paces of growth. By contrast, Cote d'Ivoire (X%), Gambia (X%), Mali (X%), Senegal (X%) and Niger (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Gambia (X p.p.), Mali (X p.p.), Senegal (X p.p.) and Niger (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest memories supplying countries in ECOWAS were Nigeria ($X), Cote d'Ivoire ($X) and Mali ($X), with a combined X% share of total exports.

Nigeria, with a CAGR of X%, saw 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

The export price in ECOWAS stood at $X per unit in 2023, rising by X% against the previous year. In general, the export price, however, continues to indicate a noticeable reduction. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2023, the export prices stood 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 Cote d'Ivoire ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

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

Memories Imports

Imports in ECOWAS

In 2023, approx. X units of multichip integrated circuits: memories were imported in ECOWAS; waning by X% against the previous year's figure. Overall, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.

In value terms, memories imports dropped notably to $X in 2023. Over the period under review, imports showed a deep setback. The pace of growth appeared the most rapid in 2018 when imports increased by X%. The level of import peaked at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

Nigeria prevails in imports structure, amounting to X units, which was approx. X% of total imports in 2023. It was distantly followed by Cote d'Ivoire (X units), Burkina Faso (X units) and Senegal (X units), together committing a X% share of total imports. Benin (X units) held a little share of total imports.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Cote d'Ivoire (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Benin (X%) illustrated a downward trend over the same period. Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), Senegal (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported multichip integrated circuits: memories in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Nigeria amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, approximately reflecting the previous year. Over the period under review, the import price, however, showed a pronounced descent. The pace of growth was the most pronounced in 2014 when the import price increased by X%. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Benin ($X per unit) 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 mixed trends in the import price figures.

Source: IndexBox Platform