Sierra Leone: Beeswax Market 2020

Beeswax Market Size in Sierra Leone

The revenue of the beeswax market in Sierra Leone amounted to $X in 2018, going up by X% against the previous year. The market value increased at an average annual rate of +X% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded over the period under review. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Sierra Leone beeswax consumption peaked at $X in 2014; however, from 2015 to 2018, consumption failed to regain its momentum.

Beeswax Production in Sierra Leone

In value terms, beeswax production stood at $X in 2018 estimated in export prices. In general, beeswax production continues to indicate remarkable growth. The growth pace was the most rapid in 2017 with an increase of X% year-to-year. Sierra Leone beeswax production peaked in 2018 and is likely to continue its growth in the near future.

Beeswax Exports

Exports by Country

China was the key exporter of beeswax in the world, with the volume of exports resulting at X tons, which was near X% of total exports in 2018. The U.S. (X tons) ranks second in terms of the total exports with a X% share, followed by Malaysia (X%), Germany (X%) and Vietnam (X%). Nicaragua (X tons), the Netherlands (X tons), France (X tons), Argentina (X tons) and Tanzania (X tons) occupied a relatively small share of total exports.

Exports from China increased at an average annual rate of +X% from 2007 to 2018. At the same time, Nicaragua (+X%), Vietnam (+X%), the U.S. (+X%), Malaysia (+X%), the Netherlands (+X%), Germany (+X%) and Tanzania (+X%) displayed positive paces of growth. Moreover, Nicaragua emerged as the fastest-growing exporter in the world, with a CAGR of +X% from 2007-2018. France experienced a relatively flat trend pattern. By contrast, Argentina (-X%) illustrated a downward trend over the same period. From 2007 to 2018, the share of China, the U.S., Vietnam, Malaysia, Nicaragua, Germany and the Netherlands increased by +X%, +X%, +X%, +X%, +X%, +X% and +X% percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest beeswax supplier from Sierra Leone, comprising X% of global exports. The second position in the ranking was occupied by Germany ($X), with a X% share of global exports. It was followed by the U.S., with a X% share.

In China, beeswax exports increased at an average annual rate of +X% over the period from 2007-2018. The remaining exporting countries recorded the following average annual rates of exports growth: Germany (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

The beeswax export price in Sierra Leone stood at $X per ton in 2018, remaining constant against the previous year. In general, the beeswax export price continues to indicate a relatively flat trend pattern. Over the period under review, the export prices for beeswax attained their peak figure at $X per ton in 2016; however, from 2017 to 2018, export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Germany ($X per ton), while Malaysia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Tanzania, while the other leaders experienced more modest paces of growth.

Beeswax Imports

Imports into Sierra Leone

In 2018, the amount of beeswax imported into Sierra Leone stood at X kg, going up by X% against the previous year. In general, beeswax imports continue to indicate a prominent expansion. The most prominent rate of growth was recorded in 2009 when imports increased by X% y-o-y. Over the period under review, beeswax imports attained their peak figure at X tons in 2014; however, from 2015 to 2018, imports stood at a somewhat lower figure.

In value terms, beeswax imports totaled $X in 2018. In general, beeswax imports continue to indicate a drastic setback. The pace of growth was the most pronounced in 2009 with an increase of X% y-o-y. Sierra Leone imports peaked at $X in 2014; however, from 2015 to 2018, imports stood at a somewhat lower figure.

Imports by Country

The countries with the highest levels of beeswax imports in 2018 were France (X tons), the U.S. (X tons) and Germany (X tons), together finishing at X% of total import. It was distantly followed by India (X tons), achieving a X% share of total imports. The UK (X tons), Greece (X tons), Somalia (X tons), Japan (X tons), Algeria (X tons), Italy (X tons), Australia (X tons) and Spain (X tons) followed a long way behind the leaders.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Somalia, while the other leaders experienced more modest paces of growth.

In value terms, the U.S. ($X), Germany ($X) and France ($X) constituted the countries with the highest levels of imports in 2018, with a combined X% share of total imports. Japan, Italy, the UK, Australia, Spain, Greece, India, Algeria, Somalia and Sierra Leone lagged somewhat behind, together comprising a further X terms of the main importing countries, Somalia recorded the highest rates of growth with regard to imports, over the last eleven years, while the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2018, the beeswax import price in Sierra Leone amounted to $X per ton, reducing by -X% against the previous year. Over the period under review, the beeswax import price continues to indicate a dramatic curtailment. The pace of growth was the most pronounced in 2016 when the import price increased by X% against the previous year. Over the period under review, the import prices for beeswax attained their maximum at $X per ton in 2008; however, from 2009 to 2018, import prices failed to regain their momentum.

Prices varied noticeably by the country of destination; the country with the highest price was Italy ($X per ton), while Somalia ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by Japan, while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform