ECOWAS: Parachute Market 2023

Parachute Market Size in ECOWAS

The ECOWAS parachute market was finally on the rise to reach $X in 2022, after five years of decline. Over the period under review, consumption, however, recorded a mild reduction. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Parachute Production in ECOWAS

In value terms, parachute production reduced modestly to $X in 2022 estimated in export price. In general, production continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Parachute Exports

Exports in ECOWAS

After two years of growth, shipments abroad of parachutes and rotochutes decreased by X% to X kg in 2022. Overall, exports faced a deep slump. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports hit record highs at X kg in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, parachute exports reduced sharply to $X in 2022. Over the period under review, exports faced a abrupt downturn. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sierra Leone (X kg) and Liberia (X kg) dominates exports structure, together generating X% of total exports. Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Sierra Leone ($X), Liberia ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together comprising X% of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price showed a moderate increase. The most prominent rate of growth was recorded in 2017 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Parachute Imports

Imports in ECOWAS

Parachute imports surged to X tons in 2022, increasing by X% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, parachute imports declined rapidly to $X in 2022. In general, imports, however, saw a abrupt downturn. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Togo (X tons) and Ghana (X tons) represented the main importers of parachutes and rotochutes in 2022, resulting at approx. X% and X% of total imports, respectively. It was distantly followed by Senegal (X tons) and Cote d'Ivoire (X tons), together achieving a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported parachutes and rotochutes in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the import price showed a abrupt shrinkage. The growth pace was the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then shrank rapidly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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