ECOWAS: Nail And Bolt Market 2024

Nail And Bolt Market Size in ECOWAS

After two years of growth, the ECOWAS nail and bolt market decreased by X% to $X in 2022. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2021, and then dropped modestly in the following year.

Nail And Bolt Production in ECOWAS

In value terms, nail and bolt production expanded slightly to $X in 2022 estimated in export price. The total production indicated a measured 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, production decreased by X% against 2018 indices. The growth pace was the most rapid in 2018 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Nail And Bolt Exports

Exports in ECOWAS

In 2022, exports of nails, tacks, staples, screws and bolts in ECOWAS soared to X tons, growing by X% against the year before. Overall, exports, however, recorded a slight curtailment. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, nail and bolt exports soared to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire represented the main exporting country with an export of about X tons, which accounted for X% of total exports. Benin (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%) and Togo (X%). Burkina Faso (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to nail and bolt exports from Cote d'Ivoire stood at X%. At the same time, Ghana (X%), Burkina Faso (X%) and Benin (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Ghana (X p.p.) and Burkina Faso (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Togo (X p.p.) displayed negative dynamics.

In value terms, the largest nail and bolt supplying countries in ECOWAS were Cote d'Ivoire ($X), Benin ($X) and Togo ($X), with a combined X% share of total exports. Burkina Faso and Ghana lagged somewhat behind, together comprising a further X%.

In terms of the main exporting countries, Burkina Faso, with a CAGR of X%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, jumping by X% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the export price figures.

Nail And Bolt Imports

Imports in ECOWAS

In 2022, purchases abroad of nails, tacks, staples, screws and bolts increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Total imports indicated temperate growth 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 2017 indices. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to see gradual growth in years to come.

In value terms, nail and bolt imports contracted to $X in 2022. Total imports indicated a moderate 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, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2021, and then fell in the following year.

Imports by Country

In 2022, Ghana (X tons) and Nigeria (X tons) represented the major importers of nails, tacks, staples, screws and bolts in ECOWAS, together mixing up X% of total imports. Burkina Faso (X tons) ranks next in terms of the total imports with a X% share, followed by Senegal (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Guinea (X%). Liberia (X tons), Benin (X tons), Togo (X tons), Mali (X tons), Gambia (X tons) and Niger (X tons) followed a long way behind the leaders.

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, the largest nail and bolt importing markets in ECOWAS were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Guinea, Burkina Faso, Liberia, Sierra Leone, Mali, Togo, Niger, Benin and Gambia lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries 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, waning by X% against the previous year. Overall, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the import price increased by X%. As a result, import price attained the peak level of $X per ton. From 2018 to 2022, the 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 ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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