ECOWAS: Paper Knife Market 2023

Paper Knife Exports

Exports in ECOWAS

In 2022, shipments abroad of paper knives was finally on the rise to reach X units for the first time since 2017, thus ending a four-year declining trend. In general, exports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when exports increased by 1,214%. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, paper knife exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2017 when exports increased by 943% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria was the main exporting country with an export of around X units, which recorded 71% of total exports. Mali (X units) held a 15% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (8.4%). Cote d'Ivoire (X units) and Niger (X units) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the paper knives exports, with a CAGR of +30.5% from 2012 to 2022. Cote d'Ivoire (-8.0%), Mali (-9.7%), Senegal (-13.2%) and Niger (-18.6%) illustrated a downward trend over the same period. While the share of Nigeria (+66 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-4.2 p.p.), Niger (-12.9 p.p.), Mali (-24.6 p.p.) and Senegal (-24.7 p.p.) displayed negative dynamics.

In value terms, Nigeria ($X) remains the largest paper knife supplier in ECOWAS, comprising 42% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 20% share of total exports. It was followed by Mali, with a 16% share.

In Nigeria, paper knife exports remained relatively stable over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-5.5% per year) and Mali (-4.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by -11.1% against the previous year. Over the period under review, the export price continues to indicate a noticeable decline. The growth pace was the most rapid in 2015 when the export price increased by 60% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 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 Cote d'Ivoire ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+9.9%), while the other leaders experienced more modest paces of growth.

Paper Knife Imports

Imports in ECOWAS

In 2022, approx. X units of paper knives were imported in ECOWAS; with a decrease of -18.4% compared with the previous year. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 81%. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports failed to regain momentum.

In value terms, paper knife imports fell markedly to $X in 2022. Overall, imports, however, enjoyed tangible growth. The pace of growth was the most pronounced in 2021 with an increase of 96% against the previous year. As a result, imports reached the peak of $X, and then shrank dramatically in the following year.

Imports by Country

In 2022, Ghana (X units) was the major importer of paper knives, committing 43% of total imports. It was distantly followed by Senegal (X units), Cote d'Ivoire (X units), Togo (X units) and Guinea (X units), together mixing up a 42% share of total imports. Benin (X units) and Nigeria (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to paper knife imports into Ghana stood at -1.4%. At the same time, Benin (+28.4%), Senegal (+7.9%), Guinea (+7.6%), Cote d'Ivoire (+5.2%) and Togo (+3.7%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +28.4% from 2012-2022. By contrast, Nigeria (-17.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Cote d'Ivoire, Benin, Guinea and Togo increased by +9.1, +4.6, +3.8, +3.5 and +2.6 percentage points, respectively.

In value terms, Ghana ($X) constitutes the largest market for imported paper knives in ECOWAS, comprising 40% of total imports. The second position in the ranking was held by Senegal ($X), with a 19% share of total imports. It was followed by Cote d'Ivoire, with a 12% share.

In Ghana, paper knife imports increased at an average annual rate of +3.6% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (+10.8% per year) and Cote d'Ivoire (+7.4% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2022, shrinking by -7.5% against the previous year. Import price indicated notable growth from 2012 to 2022: its price increased at an average annual rate of +4.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, paper knife import price increased by +12.7% against 2019 indices. The pace of growth was the most pronounced in 2015 when the import price increased by 60% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Nigeria (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :