ECOWAS: Screwdriver Market 2024

Screwdriver Exports

Exports in ECOWAS

Screwdriver exports expanded remarkably to X tons in 2023, with an increase of X% against 2022 figures. Over the period under review, exports, however, continue to indicate a abrupt curtailment. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, screwdriver exports soared to $X in 2023. In general, exports saw prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the major exporter of screwdrivers in ECOWAS, with the volume of exports reaching X kg, which was near X% of total exports in 2023. Ghana (X kg) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (X%) and Senegal (X%). Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Senegal (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest screwdriver supplying countries in ECOWAS were Ghana ($X), Sierra Leone ($X) and Cote d'Ivoire ($X), together accounting for X% of total exports.

Sierra Leone, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. Overall, the export price posted strong growth. The pace of growth was the most pronounced in 2022 when the export price increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Screwdriver Imports

Imports in ECOWAS

In 2023, imports of screwdrivers in ECOWAS surged to X tons, picking up by X% compared with 2022. Over the period under review, imports, however, saw a mild contraction. The volume of import peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, screwdriver imports declined significantly to $X in 2023. Total imports indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2022, and then dropped dramatically in the following year.

Imports by Country

In 2023, Nigeria (X tons) represented the major importer of screwdrivers, generating X% of total imports. Togo (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%) and Senegal (X%). Guinea (X tons), Ghana (X tons) and Burkina Faso (X tons) followed a long way behind the leaders.

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Togo (X%), Cote d'Ivoire (X%), Senegal (X%), Burkina Faso (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.), Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) and Ghana (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest screwdriver importing markets in ECOWAS were Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X), together accounting for X% of total imports. Guinea, Ghana, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Togo, with a CAGR of X%, 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

The import price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the import price, however, enjoyed a measured increase. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per ton in 2021; however, from 2022 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Senegal ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform