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Report ECOWAS - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights for 499$
Report Update Apr 1, 2024

ECOWAS - Silver Ores and Concentrates - Market Analysis, Forecast, Size, Trends and Insights

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ECOWAS: Silver Ore Market 2024

Silver Ore Market Size in ECOWAS

The ECOWAS silver ore market soared to $X in 2021, picking up by 148% against the previous year. In general, consumption, however, continues to indicate a abrupt decrease. As a result, consumption attained the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Silver Ore Production in ECOWAS

In value terms, silver ore production skyrocketed to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a resilient expansion. The pace of growth appeared the most rapid in 2016 when the production volume increased by 409%. As a result, production reached the peak level of $X. From 2017 to 2021, production growth failed to regain momentum.

Silver Ore Exports

Exports in ECOWAS

In 2021, shipments abroad of silver ores and concentrates decreased by -12.2% to X tons for the first time since 2016, thus ending a four-year rising trend. Over the period under review, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2014 when exports increased by 878%. The volume of export peaked at X tons in 2020, and then dropped in the following year.

In value terms, silver ore exports soared to $X in 2021. Overall, exports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2014 with an increase of 727% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the near future.

Exports by Country

Nigeria (X tons) represented roughly 100% of total exports in 2021.

Nigeria was also the fastest-growing in terms of the silver ores and concentrates exports, with a CAGR of +30.8% from 2012 to 2021. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest silver ore supplier in ECOWAS.

From 2012 to 2021, the average annual growth rate of value in Nigeria stood at +41.0%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, rising by 37% against the previous year. Overall, the export price recorded a resilient increase. The growth pace was the most rapid in 2016 an increase of 396%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for Nigeria amounted to +7.8% per year.

Silver Ore Imports

Imports in ECOWAS

Silver ore imports shrank rapidly to X kg in 2021, which is down by -67.3% on 2020 figures. In general, imports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when imports increased by 421%. The volume of import peaked at X tons in 2017; however, from 2018 to 2021, imports remained at a lower figure.

In value terms, silver ore imports fell sharply to $X in 2021. Over the period under review, imports recorded a deep slump. The pace of growth appeared the most rapid in 2017 when imports increased by 240% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

Mali represented the major importing country with an import of around X kg, which finished at 89% of total imports. It was distantly followed by Burkina Faso (X kg), achieving an 11% share of total imports.

Mali was also the fastest-growing in terms of the silver ores and concentrates imports, with a CAGR of +16.6% from 2012 to 2021. At the same time, Burkina Faso (+13.0%) displayed positive paces of growth. While the share of Mali (+32 p.p.) and Burkina Faso (+1.7 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) constitutes the largest market for imported silver ores and concentrates in ECOWAS, comprising 88% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 12% share of total imports.

From 2012 to 2021, the average annual growth rate of value in Mali amounted to +50.5%.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2021, picking up by 120% against the previous year. Over the period under review, the import price, however, saw a deep downturn. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

Average prices varied noticeably amongst the major importing countries. In 2021, the country with the highest price was Burkina Faso ($X per ton), while Mali amounted to $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mali (+29.1%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :

The country with the largest volume of silver ore consumption was Nigeria, comprising approx. 88% of total volume. Moreover, silver ore consumption in Nigeria exceeded the figures recorded by the second-largest consumer, Mali, more than tenfold. Ghana ranked third in terms of total consumption with a 2.8% share.
Nigeria remains the largest silver ore producing country in ECOWAS, accounting for 99% of total volume.
In value terms, Nigeria remains the largest silver ore supplier in ECOWAS.
In value terms, Mali constitutes the largest market for imported silver ores and concentrates in ECOWAS, comprising 88% of total imports. The second position in the ranking was held by Burkina Faso, with a 12% share of total imports.
The export price in ECOWAS stood at $15,457 per ton in 2021, surging by 37% against the previous year.
In 2021, the import price in ECOWAS amounted to $42,035 per ton, surging by 120% against the previous year.

This report provides an in-depth analysis of the silver ore market 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 07291410 -

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:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. 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.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and Its Prospects

    1. MARKET SIZE
    2. CONSUMPTION BY COUNTRY
    3. MARKET FORECAST TO 2030

  4. 4. MOST PROMISING PRODUCT

    Finding New Products to Diversify Your Business

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCT
    4. MOST TRADED PRODUCT
    5. MOST PROFITABLE PRODUCT FOR EXPORT

  5. 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
    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Exports

    This Chapter is Available Only for the Professional Edition PRO
    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE
    2. PRODUCTION BY COUNTRY

  8. 8. IMPORTS

    The Largest Importers on The Market and How They Succeed

    1. IMPORTS FROM 2012–2023
    2. IMPORTS BY COUNTRY
    3. IMPORT PRICES BY COUNTRY

  9. 9. EXPORTS

    The Largest Exporters on The Market and How They Succeed

    1. EXPORTS FROM 2012–2023
    2. EXPORTS BY COUNTRY
    3. EXPORT PRICES BY COUNTRY

  10. 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. 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

  12. LIST OF TABLES

    1. Key Findings In 2023
    2. Market Volume, In Physical Terms, 2012–2023
    3. Market Value, 2012–2023
    4. Per Capita Consumption, By Country, 2018–2023
    5. Production, In Physical Terms, By Country, 2012–2023
    6. Imports, In Physical Terms, By Country, 2012–2023
    7. Imports, In Value Terms, By Country, 2012–2023
    8. Import Prices, By Country Of Destination, 2012–2023
    9. Exports, In Physical Terms, By Country, 2012–2023
    10. Exports, In Value Terms, By Country, 2012–2023
    11. Export Prices, By Country Of Origin, 2012–2023

  13. LIST OF FIGURES

    1. Market Volume, In Physical Terms, 2012–2023
    2. Market Value, 2012–2023
    3. Consumption, By Country, 2023
    4. Market Volume Forecast to 2030
    5. Market Value Forecast to 2030
    6. Products: Market Size And Growth, By Type
    7. Products: Average Per Capita Consumption, By Type
    8. Products: Exports And Growth, By Type
    9. Products: Export Prices And Growth, By Type
    10. Production Volume And Growth
    11. Exports And Growth
    12. Export Prices And Growth
    13. Market Size And Growth
    14. Per Capita Consumption
    15. Imports And Growth
    16. Import Prices
    17. Production, In Physical Terms, 2012–2023
    18. Production, In Value Terms, 2012–2023
    19. Production, By Country, 2023
    20. Production, In Physical Terms, By Country, 2012–2023
    21. Imports, In Physical Terms, 2012–2023
    22. Imports, In Value Terms, 2012–2023
    23. Imports, In Physical Terms, By Country, 2023
    24. Imports, In Physical Terms, By Country, 2012–2023
    25. Imports, In Value Terms, By Country, 2012–2023
    26. Import Prices, By Country, 2012–2023
    27. Exports, In Physical Terms, 2012–2023
    28. Exports, In Value Terms, 2012–2023
    29. Exports, In Physical Terms, By Country, 2023
    30. Exports, In Physical Terms, By Country, 2012–2023
    31. Exports, In Value Terms, By Country, 2012–2023
    32. Export Prices, 2012–2023

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