Western Africa: Hand Tools Market 2024

Hand Tools Market Size in Western Africa

In 2022, the West African hand tools market decreased by X% to $X, falling for the second consecutive year after four years of growth. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Hand Tools Production in Western Africa

In value terms, hand tools production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a strong increase. The growth pace was the most rapid in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Hand Tools Exports

Exports in Western Africa

In 2022, the amount of hand tools exported in Western Africa reduced remarkably to X tons, which is down by X% against the previous year. Over the period under review, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, the exports attained the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, hand tools exports soared to $X in 2022. In general, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Ghana (X tons) and Cote d'Ivoire (X tons) represented the major exporters of hand tools in 2022, recording approx. X% and X% of total exports, respectively. It was distantly followed by Burkina Faso (X tons), Nigeria (X tons), Senegal (X tons) and Guinea (X tons), together constituting a X% share of total exports. Benin (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Senegal ($X) emerged as the largest hand tools supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Guinea, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Senegal amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, jumping by X% against the previous year. Overall, the export price continues to indicate a strong expansion. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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 Senegal ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Hand Tools Imports

Imports in Western Africa

In 2022, purchases abroad of hand tools decreased by X% to X tons, falling for the second consecutive year after four years of growth. In general, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of X tons. From 2014 to 2022, the growth of imports remained at a lower figure.

In value terms, hand tools imports shrank modestly to $X in 2022. Total imports indicated mild growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2021, and then dropped modestly in the following year.

Imports by Country

In 2022, Nigeria (X tons) and Ghana (X tons) were the key importers of hand tools in Western Africa, together finishing at near X% of total imports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Burkina Faso (X%) and Guinea (X%). Benin (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Senegal (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X) constitutes the largest market for imported hand tools in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana stood at X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, rising by X% against the previous year. Import price indicated a slight increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, hand tools import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2014 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a 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 Guinea ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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