Western Africa: Market for Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers 2024

Exports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Exports in Western Africa

In 2022, approx. X units of iron or steel gas domestic cooking appliances and plate warmers were exported in Western Africa; with an increase of 39% against the year before. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 151% against the previous year. Over the period under review, the exports of attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, exports of iron or steel gas domestic cooking appliances and plate warmers expanded significantly to $X in 2022. Over the period under review, exports, however, recorded a abrupt slump. The most prominent rate of growth was recorded in 2020 when exports increased by 220% against the previous year. Over the period under review, the exports of attained the maximum at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Senegal was the key exporting country with an export of about X units, which finished at 58% of total exports. Nigeria (X units) held a 23% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (8.5%). Togo (X units) and Cote d'Ivoire (X units) held a minor share of total exports.

Exports from Senegal decreased at an average annual rate of -9.8% from 2012 to 2022. At the same time, Nigeria (+32.2%), Togo (+20.7%) and Sierra Leone (+9.4%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +32.2% from 2012-2022. By contrast, Cote d'Ivoire (-14.9%) illustrated a downward trend over the same period. Nigeria (+22 p.p.), Sierra Leone (+6.8 p.p.) and Togo (+2.6 p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Senegal saw its share reduced by -3.4% and -23.3% from 2012 to 2022, respectively.

In value terms, Senegal ($X) remains the largest iron or steel gas domestic cooking appliances and plate warmers supplier in Western Africa, comprising 70% of total exports. The second position in the ranking was held by Nigeria ($X), with a 13% share of total exports. It was followed by Sierra Leone, with a 9.4% share.

In Senegal, exports of iron or steel gas domestic cooking appliances and plate warmers shrank by an average annual rate of -9.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Nigeria (+26.1% per year) and Sierra Leone (+4.4% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, reducing by -18.2% against the previous year. Over the period under review, the export price showed a mild curtailment. The most prominent rate of growth was recorded in 2020 when the export price increased by 27% against the previous year. The level of export peaked at $X per unit in 2021, and then fell significantly in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+0.7%), while the other leaders experienced a decline in the export price figures.

Imports of Iron or Steel Gas Domestic Cooking Appliances and Plate Warmers

Imports in Western Africa

In 2022, purchases abroad of iron or steel gas domestic cooking appliances and plate warmers decreased by -4.9% to X units, falling for the second year in a row after four years of growth. Overall, imports, however, recorded a prominent expansion. The pace of growth was the most pronounced in 2019 with an increase of 74%. Over the period under review, imports of reached the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, imports of iron or steel gas domestic cooking appliances and plate warmers reduced to $X in 2022. Over the period under review, imports, however, enjoyed a strong increase. The growth pace was the most rapid in 2019 when imports increased by 63%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units) was the major importer of iron or steel gas domestic cooking appliances and plate warmers, committing 57% of total imports. Ghana (X units) ranks second in terms of the total imports with a 26% share, followed by Cote d'Ivoire (5.5%). The following importers - Cabo Verde (X units) and Senegal (X units) - each recorded a 6.5% share of total imports.

Nigeria was also the fastest-growing in terms of the iron or steel gas domestic cooking appliances and plate warmers imports, with a CAGR of +8.1% from 2012 to 2022. At the same time, Ghana (+7.0%), Senegal (+6.1%) and Cote d'Ivoire (+5.5%) displayed positive paces of growth. Cabo Verde experienced a relatively flat trend pattern. Nigeria (+7.7 p.p.) significantly strengthened its position in terms of the total imports, while Cabo Verde saw its share reduced by -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported iron or steel gas domestic cooking appliances and plate warmers in Western Africa, comprising 56% of total imports. The second position in the ranking was taken by Ghana ($X), with a 26% share of total imports. It was followed by Cote d'Ivoire, with a 6.6% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +6.1%. In the other countries, the average annual rates were as follows: Ghana (+5.5% per year) and Cote d'Ivoire (+5.7% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, declining by -10.3% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 an increase of 12% against the previous year. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Cote d'Ivoire ($X per unit) and Senegal ($X per unit), while Cabo Verde ($X per unit) and Nigeria ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (+6.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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