ECOWAS: Market for Pen Or Pencil Sets 2023

Market Size for Pen Or Pencil Sets in ECOWAS

The ECOWAS pen or pencil sets market dropped to $X in 2022, reducing by -5.6% against the previous year. In general, consumption, however, saw a noticeable descent. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Pen Or Pencil Sets in ECOWAS

In value terms, pen or pencil sets production contracted to $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2015 with an increase of 27% against the previous year. Over the period under review, production hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Pen Or Pencil Sets

Exports in ECOWAS

In 2022, shipments abroad of pen or pencil sets decreased by 0% to X units, falling for the second year in a row after two years of decline. Over the period under review, exports faced a dramatic downturn. The most prominent rate of growth was recorded in 2013 with an increase of 1,125% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pen or pencil sets exports stood at $X in 2022. Overall, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2013 when exports increased by 1,097%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, rising by 8% against the previous year. In general, the export price saw a pronounced expansion. The growth pace was the most rapid in 2016 an increase of 129% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -4.7% per year.

Imports of Pen Or Pencil Sets

Imports in ECOWAS

For the fourth consecutive year, ECOWAS recorded growth in supplies from abroad of pen or pencil sets, which increased by 29% to X units in 2022. Overall, imports enjoyed prominent growth. The most prominent rate of growth was recorded in 2020 when imports increased by 118% against the previous year. Over the period under review, imports hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, pen or pencil sets imports totaled $X in 2022. In general, imports enjoyed a prominent increase. The pace of growth appeared the most rapid in 2017 when imports increased by 125%. The level of import peaked at $X in 2015; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Ghana (X units), distantly followed by Senegal (X units), Cote d'Ivoire (X units), Togo (X units), Nigeria (X units) and Burkina Faso (X units) represented the main importers of pen or pencil sets, together committing 87% of total imports. Guinea (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of +37.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest pen or pencil sets importing markets in ECOWAS were Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined 68% share of total imports.

In terms of the main importing countries, Ghana, with a CAGR of +37.6%, saw the highest growth rate of the value of imports, 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 unit, with a decrease of -21.8% against the previous year. In general, the import price showed a deep reduction. The pace of growth was the most pronounced in 2015 when the import price increased by 43%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

Frequently Asked Questions (FAQ) :