Western Africa: Market for Machine-Tools For Working Wood 2024

Exports of Machine-Tools For Working Wood

Exports in Western Africa

In 2023, approx. X units of machine-tools for working wood were exported in Western Africa; picking up by X% against the previous year. Over the period under review, exports posted buoyant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2022 to 2023, the growth of the exports failed to regain momentum.

In value terms, machine-tool for working wood exports expanded sharply to $X in 2023. Overall, exports recorded strong growth. The growth pace was the most rapid in 2020 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see gradual growth in the immediate term.

Exports by Country

Gambia dominates exports structure, accounting for X units, which was approx. X% of total exports in 2023. It was distantly followed by Burkina Faso (X units), creating a X% share of total exports. Togo (X units) followed a long way behind the leaders.

Gambia was also the fastest-growing in terms of the machine-tools for working wood exports, with a CAGR of X% from 2012 to 2023. At the same time, Burkina Faso (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. Gambia (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Togo saw its share reduced by X% from 2012 to 2023, respectively.

In value terms, Gambia ($X) remains the largest machine-tool for working wood supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total exports.

In Gambia, machine-tool for working wood exports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Togo (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, picking up by X% against the previous year. Overall, the export price, however, saw a perceptible downturn. The most prominent rate of growth was recorded in 2022 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Burkina Faso ($X per unit), while Gambia ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machine-Tools For Working Wood

Imports in Western Africa

For the third consecutive year, Western Africa recorded decline in overseas purchases of machine-tools for working wood, which decreased by X% to X units in 2023. In general, imports, however, enjoyed pronounced growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2020; however, from 2021 to 2023, imports failed to regain momentum.

In value terms, machine-tool for working wood imports reduced dramatically to $X in 2023. Overall, imports, however, enjoyed temperate growth. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2023, imports failed to regain momentum.

Imports by Country

Ghana dominates imports structure, recording X units, which was approx. X% of total imports in 2023. Nigeria (X units) took the second position in the ranking, followed by Guinea (X units). All these countries together held approx. X% share of total imports. Togo (X units), Senegal (X units), Liberia (X units), Cote d'Ivoire (X units), Sierra Leone (X units), Benin (X units) and Mali (X units) held a minor share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Mali (X%), Togo (X%), Liberia (X%), Guinea (X%) and Benin (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Sierra Leone (X%), Senegal (X%), Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana, Togo, Guinea and Mali increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest machine-tool for working wood importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total imports. Senegal, Guinea, Togo, Liberia, Mali, Benin and Sierra Leone lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Mali, with a CAGR of X%, recorded 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 2023, the import price in Western Africa amounted to $X per unit, which is down by X% against the previous year. Over the period under review, the import price, however, enjoyed a modest increase. The most prominent rate of growth was recorded in 2017 an increase of X%. The level of import peaked at $X per unit in 2020; however, from 2021 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2023, 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.

Source: IndexBox Platform