ECOWAS - Plastic or Non-Precious Metal Watches - Market Analysis, Forecast, Size, Trends and Insights
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View PricingECOWAS: Market for Plastic or Non-Precious Metal Watches 2024
Market Size for Plastic or Non-Precious Metal Watches in ECOWAS
In 2022, the ECOWAS market for plastic or non-precious metal watches decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated a notable increase 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. Over the period under review, the market reached the maximum level at $X in 2021, and then contracted significantly in the following year.
Production of Plastic or Non-Precious Metal Watches in ECOWAS
In value terms, plastic or non-precious metal watch production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.
Exports of Plastic or Non-Precious Metal Watches
Exports in ECOWAS
In 2022, overseas shipments of plastic or non-precious metal watches decreased by X% to X units, falling for the third year in a row after three years of growth. Over the period under review, exports saw a deep contraction. The pace of growth was the most pronounced in 2018 when exports increased by X% against the previous year. The volume of export peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.
In value terms, plastic or non-precious metal watch exports contracted notably to $X in 2022. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports remained at a lower figure.
Exports by Country
The biggest shipments were from Togo (X units), Senegal (X units), Ghana (X units) and Burkina Faso (X units), together amounting to X% of total export. It was distantly followed by Liberia (X units), generating a X% share of total exports.
From 2012 to 2022, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.
In value terms, Liberia ($X) remains the largest plastic or non-precious metal watch supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports. It was followed by Togo, with a X% share.
From 2012 to 2022, the average annual rate of growth in terms of value in Liberia totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Burkina Faso (X% per year) and Togo (X% per year).
Export Prices by Country
The export price in ECOWAS stood at $X per unit in 2022, remaining constant against the previous year. Overall, the export price, however, saw resilient growth. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. As a result, the export price reached the peak level of $X per unit, leveling off in the following year.
There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Ghana ($X per unit) 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.
Imports of Plastic or Non-Precious Metal Watches
Imports in ECOWAS
In 2022, overseas purchases of plastic or non-precious metal watches increased by X% to X units, rising for the fifth year in a row after two years of decline. Over the period under review, imports showed a prominent increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are expected to retain growth in years to come.
In value terms, plastic or non-precious metal watch imports stood at $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.
Imports by Country
Benin represented the major importer of plastic or non-precious metal watches in ECOWAS, with the volume of imports recording X units, which was near X% of total imports in 2022. Ghana (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Guinea (X units), Sierra Leone (X units) and Nigeria (X units) held a minor share of total imports.
Imports into Benin increased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Benin, Ghana and Sierra Leone increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.
In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported plastic or non-precious metal watches in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Ghana, with a X% share.
In Cote d'Ivoire, plastic or non-precious metal watch imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Ghana (X% per year).
Import Prices by Country
In 2022, the import price in ECOWAS amounted to $X per unit, dropping by X% against the previous year. In general, the import price recorded a pronounced contraction. The growth pace was the most rapid in 2016 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, import prices remained at a lower figure.
There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Benin (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 Nigeria (X%), while the other leaders experienced mixed trends in the import price figures.
Source: IndexBox Platform
This report provides an in-depth analysis of the market for plastic or non-precious metal watch in ECOWAS. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
- Prodcom 26521200 - Other wrist-watches, pocket-watches and other watches, i ncluding stop-watches
Country coverage:
- Benin
- Burkina Faso
- Cabo Verde
- Cote d'Ivoire
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Production in ECOWAS, split by region and country
- Trade (exports and imports) in ECOWAS
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- CONSUMPTION BY COUNTRY
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
- PRODUCTION BY COUNTRY
8. IMPORTS
The Largest Importers on The Market and How They Succeed
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Exporters on The Market and How They Succeed
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
11. COUNTRY PROFILES
The Largest Markets And Their Profiles
This Chapter is Available Only for the Professional Edition PRO- Benin
- Burkina Faso
- Cabo Verde
- Gambia
- Ghana
- Guinea
- Guinea-Bissau
- Liberia
- Mali
- Niger
- Nigeria
- Senegal
- Sierra Leone
- Togo
- Cote d'Ivoire
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LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption, By Country, 2018–2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Destination, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Origin, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Consumption, By Country, 2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Production, By Country, 2023
- Production, In Physical Terms, By Country, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, 2012–2023
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