Western Africa: Articles Of Zinc Market 2024

Articles Of Zinc Market Size in Western Africa

In 2023, after seven years of growth, there was decline in the West African articles of zinc market, when its value decreased by X% to $X. The total consumption indicated a buoyant increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2022, and then fell slightly in the following year.

Articles Of Zinc Production in Western Africa

In value terms, articles of zinc production stood at $X in 2023 estimated in export price. Overall, production saw a strong increase. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Articles Of Zinc Exports

Exports in Western Africa

In 2023, shipments abroad of articles of zinc was finally on the rise to reach X tons for the first time since 2020, thus ending a two-year declining trend. Overall, exports, however, showed a sharp contraction. The pace of growth appeared the most rapid in 2014 when exports increased by X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, articles of zinc exports skyrocketed to $X in 2023. Over the period under review, exports, however, recorded a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2015 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Nigeria (X tons) and Senegal (X tons) prevails in exports structure, together constituting X% of total exports. Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Ghana (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X), Nigeria ($X) and Ghana ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports.

Ghana, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, dropping by X% against the previous year. In general, the export price, however, saw prominent growth. The pace of growth was the most pronounced in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2019; however, from 2020 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Articles Of Zinc Imports

Imports in Western Africa

After four years of growth, supplies from abroad of articles of zinc decreased by X% to X tons in 2023. In general, imports continue to indicate a noticeable downturn. The pace of growth was the most pronounced in 2020 when imports increased by X%. The volume of import peaked at X tons in 2022, and then contracted notably in the following year.

In value terms, articles of zinc imports shrank remarkably to $X in 2023. Overall, imports saw a abrupt downturn. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, Sierra Leone (X tons) and Senegal (X tons) represented the major importers of articles of zinc in Western Africa, together creating X% of total imports. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%). The following importers - Mali (X tons), Ghana (X tons) and Cote d'Ivoire (X tons) - together made up X% of total imports.

From 2012 to 2023, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest articles of zinc importing markets in Western Africa were Senegal ($X), Sierra Leone ($X) and Nigeria ($X), with a combined X% share of total imports.

Sierra Leone, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price, however, saw a pronounced slump. The growth pace was the most rapid in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform