Western Africa: Imitation Jewellery Market 2024

Imitation Jewellery Exports

Exports in Western Africa

In 2022, shipments abroad of imitation jewelry was finally on the rise to reach X tons after two years of decline. In general, exports continue to indicate a notable increase. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, imitation jewellery exports rose rapidly to $X in 2022. Over the period under review, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when exports increased by X%. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), committing a X% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Mali (X tons) - each recorded a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to imitation jewellery exports from Nigeria stood at X%. At the same time, Cote d'Ivoire (X%) and Senegal (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 2012-2022. Mali experienced a relatively flat trend pattern. Senegal (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest imitation jewellery supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Nigeria, imitation jewellery exports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. In general, the export price continues to indicate a slight decrease. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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

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

Imitation Jewellery Imports

Imports in Western Africa

In 2022, overseas purchases of imitation jewelry increased by X% to X tons, rising for the second year in a row after two years of decline. Total imports indicated buoyant growth from 2012 to 2022: its volume 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 2020 indices. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imitation jewellery imports declined sharply to $X in 2022. Total imports indicated a pronounced expansion 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. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Senegal (X tons), Burkina Faso (X tons) and Ghana (X tons) represented the major importer of imitation jewelry in Western Africa, committing X% of total import. It was distantly followed by Cote d'Ivoire (X tons) and Guinea (X tons), together comprising a X% share of total imports. Nigeria (X tons) and Niger (X tons) held a relatively small share of total imports.

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

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

In Ghana, imitation jewellery imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, falling by X% against the previous year. Over the period under review, the import price showed a noticeable descent. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. The level of import peaked at $X per ton in 2016; however, from 2017 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 Ghana ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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