ECOWAS: Wooden Kitchen Furniture Market 2024

Wooden Kitchen Furniture Market Size in ECOWAS

The ECOWAS wooden kitchen furniture market declined to $X in 2022, shrinking by X% against the previous year. Over the period under review, consumption, however, enjoyed a buoyant expansion. Over the period under review, the market attained the maximum level at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Wooden Kitchen Furniture Production in ECOWAS

In value terms, wooden kitchen furniture production fell to $X in 2022 estimated in export price. Over the period under review, production, however, recorded temperate growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

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Wooden Kitchen Furniture Exports

Exports in ECOWAS

For the fourth year in a row, ECOWAS recorded growth in shipments abroad of wooden furniture for kitchens, which increased by X% to X units in 2022. Over the period under review, exports enjoyed modest growth. The pace of growth appeared the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, wooden kitchen furniture exports surged to $X in 2022. Overall, exports saw a buoyant increase. The growth pace was the most rapid in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Togo was the key exporting country with an export of around X units, which resulted at X% of total exports. It was distantly followed by Nigeria (X units), Ghana (X units), Senegal (X units) and Benin (X units), together generating a X% share of total exports. Cote d'Ivoire (X units) and Mali (X units) took a minor share of total exports.

Togo was also the fastest-growing in terms of the wooden furniture for kitchens exports, with a CAGR of X% from 2012 to 2022. At the same time, Ghana (X%) and Benin (X%) displayed positive paces of growth. By contrast, Nigeria (X%), Cote d'Ivoire (X%), Senegal (X%) and Mali (X%) illustrated a downward trend over the same period. While the share of Togo (X p.p.) and Ghana (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mali (X p.p.), Nigeria (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest wooden kitchen furniture supplying countries in ECOWAS were Togo ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports.

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

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price, however, saw buoyant growth. The growth pace was the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2021, and then shrank slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Benin ($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.

Wooden Kitchen Furniture Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of wooden furniture for kitchens decreased by X% to X units in 2022. Overall, imports, however, enjoyed a prominent increase. The growth pace was the most rapid in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, wooden kitchen furniture imports dropped significantly to $X in 2022. Over the period under review, imports, however, saw a resilient increase. The growth pace was the most rapid in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2021, and then plummeted in the following year.

Imports by Country

Ghana was the major importer of wooden furniture for kitchens in ECOWAS, with the volume of imports accounting for X units, which was approx. X% of total imports in 2022. Cote d'Ivoire (X units) held the second position in the ranking, followed by Nigeria (X units), Senegal (X units) and Mali (X units). All these countries together took approx. X% share of total imports. The following importers - Guinea (X units), Gambia (X units) and Guinea-Bissau (X units) - together made up X% of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Mali (X%), Nigeria (X%), Gambia (X%), Guinea-Bissau (X%), Cote d'Ivoire (X%), Senegal (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.), Ghana (X p.p.), Mali (X p.p.), Cote d'Ivoire (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported wooden furniture for kitchens in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Cote d'Ivoire (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. Import price indicated a pronounced increase from 2012 to 2022: its price 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, wooden kitchen furniture import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2014 an increase of X%. The level of import peaked at $X per unit in 2021, and then fell in the following year.

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 Guinea-Bissau ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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