Western Africa: Market for Instrument Panel And Wall Clocks 2024

Market Size for Instrument Panel And Wall Clocks in Western Africa

In 2020, the West African market for instrument panel and wall clocks increased by X% to $X, rising for the fourth consecutive year after two years of decline. In general, consumption showed a relatively flat trend pattern. The level of consumption peaked at $X in 2014; however, from 2015 to 2020, consumption stood at a somewhat lower figure.

Production of Instrument Panel And Wall Clocks in Western Africa

In value terms, instrument panel and wall clock production reduced to $X in 2020 estimated in export price. In general, production saw a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2019, and then reduced in the following year.

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Exports of Instrument Panel And Wall Clocks

Exports in Western Africa

In 2020, shipments abroad of instrument panel and wall clocks increased by X% to X units, rising for the third year in a row after two years of decline. Overall, exports showed buoyant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, instrument panel and wall clock exports skyrocketed to $X in 2020. Over the period under review, exports posted moderate growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

Nigeria prevails in exports structure, amounting to X units, which was approx. X% of total exports in 2020. The following exporters - Cote d'Ivoire (X units) and Senegal (X units) - together made up X% of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2020. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2020. By contrast, Senegal (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2020, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, the largest instrument panel and wall clock supplying countries in Western Africa were Nigeria ($X), Cote d'Ivoire ($X) and Senegal ($X), with a combined X% share of total exports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2020, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt downturn. The growth pace was the most rapid in 2014 when the export price increased by X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2016; however, from 2017 to 2020, the export prices stood at a somewhat lower figure.

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

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Instrument Panel And Wall Clocks

Imports in Western Africa

In 2020, instrument panel and wall clock imports in Western Africa surged to X units, jumping by X% on 2019 figures. Overall, imports recorded measured growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, instrument panel and wall clock imports skyrocketed to $X in 2020. Over the period under review, imports, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2016 with an increase of X%. Over the period under review, imports hit record highs at $X in 2013; however, from 2014 to 2020, imports stood at a somewhat lower figure.

Imports by Country

Ghana was the main importing country with an import of around X units, which finished at X% of total imports. Nigeria (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%). Senegal (X units) and Niger (X units) followed a long way behind the leaders.

From 2012 to 2020, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X) constitutes the largest market for imported instrument panel and wall clocks in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Senegal, with a X% share.

In Nigeria, instrument panel and wall clock imports declined by an average annual rate of X% over the period from 2012-2020. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2020, the import price in Western Africa amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2013; however, from 2014 to 2020, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2020, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Niger (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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