ECOWAS: Semiconductor Led Market 2024

Semiconductor Led Market Size in ECOWAS

The ECOWAS semiconductor LED market soared to $X in 2022, picking up by X% against the previous year. Overall, consumption, however, enjoyed buoyant growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Semiconductor Led Production in ECOWAS

In value terms, semiconductor LED production rose significantly to $X in 2022 estimated in export price. In general, production enjoyed a strong expansion. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Semiconductor Led Exports

Exports in ECOWAS

In 2022, exports of semiconductor light emitting diodes (LEDs) in ECOWAS dropped remarkably to X units, with a decrease of X% on 2021. Overall, exports, however, showed a perceptible expansion. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, semiconductor LED exports skyrocketed to $X in 2022. In general, exports, however, recorded a prominent expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Burkina Faso (X units), Ghana (X units) and Cote d'Ivoire (X units) represented roughly X% of total exports in 2022. Togo (X units) ranks next in terms of the total exports with a X% share, followed by Sierra Leone (X%) and Senegal (X%). Nigeria (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Nigeria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Togo ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports. Sierra Leone, Senegal, Burkina Faso and Nigeria lagged somewhat behind, together accounting for a further X%.

Nigeria, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of 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

The export price in ECOWAS stood at $X per unit in 2022, surging by X% against the previous year. In general, the export price continues to indicate strong growth. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while Burkina Faso (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 Togo (X%), while the other leaders experienced more modest paces of growth.

Semiconductor Led Imports

Imports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in supplies from abroad of semiconductor light emitting diodes (LEDs), which decreased by X% to X units in 2022. Over the period under review, imports, however, showed a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, semiconductor LED imports dropped to $X in 2022. In general, imports, however, posted a pronounced increase. The growth pace was the most rapid in 2014 with an increase of X%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire (X units) and Ghana (X units) represented the main importers of semiconductor light emitting diodes (LEDs) in 2022, reaching approx. X% and X% of total imports, respectively. Burkina Faso (X units) took the next position in the ranking, followed by Nigeria (X units), Benin (X units), Niger (X units) and Senegal (X units). All these countries together held approx. 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 Benin (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest semiconductor LED importing markets in ECOWAS were Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X), with a combined X% share of total imports. Benin, Burkina Faso, Senegal and Niger lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Benin, with a CAGR of X%, saw the highest rates of growth with regard to 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 unit in 2022, rising by X% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Nigeria ($X per unit), while Niger (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 a decline in the import price figures.

Source: IndexBox Platform

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