ECOWAS: Vices And Clamps Market 2024

Vices And Clamps Market Size in ECOWAS

In 2022, the ECOWAS vices and clamps market decreased by X% to $X for the first time since 2018, thus ending a three-year rising trend. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Vices And Clamps Production in ECOWAS

In value terms, vices and clamps production reduced slightly to $X in 2022 estimated in export price. The total production indicated a temperate 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. Based on 2022 figures, production decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Vices And Clamps Exports

Exports in ECOWAS

After three years of decline, shipments abroad of vices and clamps increased by X% to X tons in 2022. In general, exports, however, continue to indicate a deep setback. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, vices and clamps exports soared to $X in 2022. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Senegal represented the main exporting country with an export of around X tons, which resulted at X% of total exports. Ghana (X kg) ranks second in terms of the total exports with a X% share, followed by Benin (X%), Cote d'Ivoire (X%) and Niger (X%). The following exporters - Guinea (X kg) and Mali (X kg) - each accounted for a X% share of total exports.

Senegal experienced a relatively flat trend pattern with regard to volume of exports of vices and clamps. At the same time, Mali (X%), Niger (X%), Cote d'Ivoire (X%), Benin (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.), Benin (X p.p.), Cote d'Ivoire (X p.p.), Niger (X p.p.), Guinea (X p.p.) and Mali (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Ghana (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) emerged as the largest vices and clamps supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Over the period under review, the export price continues to indicate a slight decrease. The pace of growth appeared the most rapid in 2014 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Vices And Clamps Imports

Imports in ECOWAS

In 2022, overseas purchases of vices and clamps decreased by X% to X tons for the first time since 2019, thus ending a two-year rising trend. Over the period under review, imports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, vices and clamps imports reduced to $X in 2022. Overall, imports saw a deep contraction. The growth pace was the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the main importer of vices and clamps in ECOWAS, with the volume of imports finishing at X tons, which was near X% of total imports in 2022. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Niger (X%) and Ghana (X%). Senegal (X tons) and Guinea (X tons) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to vices and clamps imports into Nigeria stood at X%. At the same time, Niger (X%), Cote d'Ivoire (X%), Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Guinea (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Cote d'Ivoire, Niger, Burkina Faso and Senegal increased by X, X, X, X and X percentage points, respectively.

In value terms, Nigeria ($X) constitutes the largest market for imported vices and clamps in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Ghana, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by X% against the previous year. In general, the import price, however, continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2014 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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