Western Africa: Nail And Bolt Market 2024

Nail And Bolt Market Size in Western Africa

In 2022, after two years of growth, there was decline in the West African nail and bolt market, when its value decreased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2021, and then declined in the following year.

Nail And Bolt Production in Western Africa

In value terms, nail and bolt production rose modestly to $X in 2022 estimated in export price. The total production indicated a moderate 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. Based on 2022 figures, production decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. As a result, production reached the peak level of $X. From 2019 to 2022, production growth remained at a somewhat lower figure.

Nail And Bolt Exports

Exports in Western Africa

In 2022, approx. X tons of nails, tacks, staples, screws and bolts were exported in Western Africa; rising by X% on the year before. Over the period under review, exports, however, saw a mild setback. The growth pace was the most rapid in 2018 when exports increased by X%. The volume of export peaked at X tons in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

In value terms, nail and bolt exports surged to $X in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Cote d'Ivoire represented the key exporter of nails, tacks, staples, screws and bolts in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. Benin (X tons) took the second position in the ranking, distantly followed by Ghana (X tons) and Togo (X tons). All these countries together held near X% share of total exports. Burkina Faso (X tons) followed a long way behind the leaders.

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%), Burkina Faso (X%) and Benin (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Togo (X%) illustrated a downward trend over the same period. Benin (X p.p.), Ghana (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire and Togo saw its share reduced by X% and X% from 2012 to 2022, respectively.

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

Among the main exporting countries, Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced mixed trends in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The level of export peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat lower figure.

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

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

Nail And Bolt Imports

Imports in Western Africa

In 2022, purchases abroad of nails, tacks, staples, screws and bolts increased by X% to X tons, rising for the fifth consecutive year after two years of decline. Total imports indicated measured 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 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is likely to continue growth in years to come.

In value terms, nail and bolt imports fell to $X in 2022. Total imports indicated a notable 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. Based on 2022 figures, imports increased by X% against 2017 indices. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the maximum at $X in 2021, and then shrank in the following year.

Imports by Country

Ghana (X tons) and Nigeria (X tons) represented the largest importers of nails, tacks, staples, screws and bolts in 2022, resulting at approx. X% and X% of total imports, respectively. Burkina Faso (X tons) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Cote d'Ivoire (X%), Sierra Leone (X%) and Guinea (X%). The following importers - Liberia (X tons), Benin (X tons), Togo (X tons), Mali (X tons), Gambia (X tons) and Niger (X tons) - together made up X% of total imports.

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

In value terms, the largest nail and bolt importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Cote d'Ivoire ($X), together accounting for X% of total imports. Senegal, Guinea, Burkina Faso, Liberia, Sierra Leone, Mali, Togo, Niger, Benin and Gambia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Togo, 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

The import price in Western Africa stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the import price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2018 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Benin ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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