Western Africa: Files And Rasps Market 2024

Files And Rasps Market Size in Western Africa

The West African files and rasps market skyrocketed to $X in 2022, picking up by 15% against the previous year. The total consumption indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +140.7% against 2017 indices. Over the period under review, the market hit record highs in 2022 and is likely to continue growth in the immediate term.

Files And Rasps Production in Western Africa

In value terms, files and rasps production contracted to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.1% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2013 when the production volume increased by 38%. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Files And Rasps Exports

Exports in Western Africa

Files and rasps exports totaled X units in 2022, with an increase of 8.9% on the previous year. In general, exports, however, saw a precipitous curtailment. The pace of growth was the most pronounced in 2018 with an increase of 131% against the previous year. Over the period under review, the exports attained the maximum at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, files and rasps exports skyrocketed to $X in 2022. Over the period under review, exports, however, continue to indicate a precipitous contraction. The most prominent rate of growth was recorded in 2018 when exports increased by 56%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Guinea (X units) and Nigeria (X units) represented roughly 72% of total exports in 2022. Benin (X units) ranks next in terms of the total exports with an 11% share, followed by Togo (9.1%). The following exporters - Ghana (X units) and Cote d'Ivoire (X units) - each accounted for a 7.3% share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Benin (with a CAGR of +29.7%), while the other leaders experienced more modest paces of growth.

In value terms, Guinea ($X), Ghana ($X) and Nigeria ($X) appeared to be the countries with the highest levels of exports in 2022, with a combined 83% share of total exports. Benin, Cote d'Ivoire and Togo lagged somewhat behind, together accounting for a further 15%.

In terms of the main exporting countries, Benin, with a CAGR of +37.9%, recorded 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 unit, rising by 8.1% against the previous year. Over the period under review, the export price posted a strong increase. The most prominent rate of growth was recorded in 2019 an increase of 205%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+21.8%), while the other leaders experienced more modest paces of growth.

Files And Rasps Imports

Imports in Western Africa

For the third consecutive year, Western Africa recorded growth in supplies from abroad of files, rasps and similar tools, which increased by 18% to X units in 2022. Over the period under review, imports enjoyed a resilient increase. The growth pace was the most rapid in 2018 with an increase of 49%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, files and rasps imports fell to $X in 2022. Total imports indicated a slight increase from 2012 to 2022: its value increased at an average annual rate of +1.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +22.9% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of 63%. Over the period under review, imports attained the maximum at $X in 2021, and then dropped in the following year.

Imports by Country

Cote d'Ivoire (X units) and Nigeria (X units) dominates imports structure, together making up 79% of total imports. Mali (X units) ranks next in terms of the total imports with a 5.7% share, followed by Ghana (5.7%). The following importers - Guinea (X units) and Liberia (X units) - together made up 5.9% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +44.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported files, rasps and similar tools in Western Africa, comprising 48% of total imports. The second position in the ranking was held by Ghana ($X), with a 16% share of total imports. It was followed by Nigeria, with a 15% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire was relatively modest. In the other countries, the average annual rates were as follows: Ghana (+12.9% per year) and Nigeria (-1.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, shrinking by -22.3% against the previous year. In general, the import price saw a perceptible setback. The most prominent rate of growth was recorded in 2016 when the import price increased by 30%. Over the period under review, import prices hit record highs at $X per unit 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 ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+5.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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