Western Africa: Machinery Electrical Parts Market 2024

Machinery Electrical Parts Market Size in Western Africa

The West African machinery electrical parts market contracted slightly to $X in 2022, stabilizing at the previous year. Over the period under review, consumption posted a prominent increase. The level of consumption peaked at $X in 2021, and then reduced slightly in the following year.

Machinery Electrical Parts Production in Western Africa

In value terms, machinery electrical parts production rose to $X in 2022 estimated in export price. In general, production saw prominent growth. The most prominent rate of growth was recorded in 2016 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Machinery Electrical Parts Exports

Exports in Western Africa

In 2022, exports of electrical parts of machinery or apparatus in Western Africa skyrocketed to X tons, increasing by X% compared with the year before. Overall, exports posted a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by X% against the previous year. As a result, the exports attained the peak of X tons. From 2021 to 2022, the growth of the exports remained at a lower figure.

In value terms, machinery electrical parts exports contracted remarkably to $X in 2022. In general, exports continue to indicate prominent growth. The pace of growth appeared the most rapid in 2020 when exports increased by X%. The level of export peaked at $X in 2021, and then dropped remarkably in the following year.

Exports by Country

Burkina Faso represented the main exporter of electrical parts of machinery or apparatus in Western Africa, with the volume of exports accounting for X tons, which was approx. X% of total exports in 2022. It was distantly followed by Benin (X tons) and Togo (X tons), together generating a X% share of total exports. The following exporters - Nigeria (X tons) and Senegal (X tons) - together made up X% of total exports.

From 2012 to 2022, average annual rates of growth with regard to machinery electrical parts exports from Burkina Faso stood at X%. At the same time, Nigeria (X%), Togo (X%), Benin (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Burkina Faso (X p.p.), Benin (X p.p.), Togo (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.) displayed negative dynamics.

In value terms, Burkina Faso ($X), Nigeria ($X) and Togo ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

In terms of the main exporting countries, Togo, with a CAGR of X%, saw the highest rates of growth with regard to 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 Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2021 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Machinery Electrical Parts Imports

Imports in Western Africa

In 2022, machinery electrical parts imports in Western Africa fell markedly to X tons, with a decrease of X% compared with 2021 figures. Over the period under review, imports, however, recorded a strong increase. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X tons. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, machinery electrical parts imports declined notably to $X in 2022. In general, imports, however, recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Nigeria dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2022. Senegal (X tons) took an X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%) and Niger (X%). The following importers - Liberia (X tons), Ghana (X tons) and Burkina Faso (X tons) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%), Liberia (X%), Guinea (X%), Senegal (X%), Ghana (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Nigeria (X p.p.), Guinea (X p.p.), Niger (X p.p.), Liberia (X p.p.), Senegal (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

In terms of the main importing countries, Niger, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, declining by X% against the previous year. In general, the import price, however, saw a notable expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, import prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Ghana ($X per ton), while Senegal ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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