ECOWAS: Market for Parts Of Harvester And Threshers 2024

Market Size for Parts Of Harvester And Threshers in ECOWAS

The ECOWAS market for parts of harvester and threshers shrank to $X in 2021, waning by -8.2% against the previous year. The market value increased at an average annual rate of +2.6% over the period from 2012 to 2021; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Production of Parts Of Harvester And Threshers in ECOWAS

In value terms, parts of harvester and threshers production declined to $X in 2021 estimated in export price. The total production indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +2.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +10.5% against 2019 indices. The growth pace was the most rapid in 2016 with an increase of 44% against the previous year. As a result, production attained the peak level of $X. From 2017 to 2021, production growth remained at a somewhat lower figure.

Exports of Parts Of Harvester And Threshers

Exports in ECOWAS

In 2021, shipments abroad of parts of harvester and threshers was finally on the rise to reach X units after two years of decline. Over the period under review, exports enjoyed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, parts of harvester and threshers exports soared to $X in 2021. Overall, exports showed significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Sierra Leone represented the main exporter of parts of harvester and threshers in ECOWAS, with the volume of exports amounting to X units, which was near 82% of total exports in 2021. It was distantly followed by Mali (X units), making up an 11% share of total exports. Niger (X units) took a minor share of total exports.

Sierra Leone was also the fastest-growing in terms of the parts of harvester and threshers exports, with a CAGR of +78.2% from 2012 to 2021. At the same time, Mali (+35.2%) displayed positive paces of growth. Niger experienced a relatively flat trend pattern. Sierra Leone (+80 p.p.) and Mali (+8.2 p.p.) significantly strengthened its position in terms of the total exports, while Niger saw its share reduced by -11.3% from 2012 to 2021, respectively.

In value terms, Sierra Leone ($X) emerged as the largest parts of harvester and threshers supplier in ECOWAS, comprising 77% of total exports. The second position in the ranking was taken by Mali ($X), with a 15% share of total exports.

In Sierra Leone, parts of harvester and threshers exports increased at an average annual rate of +74.9% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Mali (+43.5% per year) and Niger (+8.6% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, which is down by -24.4% against the previous year. Export price indicated strong growth from 2012 to 2021: its price increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, parts of harvester and threshers export price increased by +108.7% against 2018 indices. The most prominent rate of growth was recorded in 2019 when the export price increased by 93% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2020, and then dropped markedly in the following year.

Average prices varied somewhat amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Mali ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+8.6%), while the other leaders experienced mixed trends in the export price figures.

Imports of Parts Of Harvester And Threshers

Imports in ECOWAS

Parts of harvester and threshers imports expanded sharply to X units in 2021, with an increase of 12% compared with the previous year. In general, imports enjoyed a temperate increase. The most prominent rate of growth was recorded in 2018 with an increase of 59%. The volume of import peaked in 2021 and is likely to see steady growth in the near future.

In value terms, parts of harvester and threshers imports declined to $X in 2021. Overall, imports continue to indicate a temperate expansion. The most prominent rate of growth was recorded in 2017 with an increase of 46%. Over the period under review, imports attained the peak figure at $X in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of parts of harvester and threshers, namely Senegal, Nigeria and Ghana, represented more than two-thirds of total import. It was distantly followed by Cote d'Ivoire (X units), achieving a 7.6% share of total imports. Guinea (X units), Togo (X units) and Gambia (X units) followed a long way behind the leaders.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Guinea (with a CAGR of +39.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) constitutes the largest market for imported parts of harvester and threshers in ECOWAS, comprising 46% of total imports. The second position in the ranking was taken by Ghana ($X), with a 17% share of total imports. It was followed by Nigeria, with a 17% share.

In Senegal, parts of harvester and threshers imports expanded at an average annual rate of +12.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+20.6% per year) and Nigeria (-6.8% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2021, with a decrease of -17.1% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the import price increased by 84% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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