Western Africa: Parachute Market 2023

Parachute Market Size in Western Africa

After five years of decline, the West African parachute market increased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a slight downturn. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Parachute Production in Western Africa

In value terms, parachute production shrank modestly to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Parachute Exports

Exports in Western Africa

In 2022, overseas shipments of parachutes and rotochutes decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports saw a abrupt contraction. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, parachute exports contracted rapidly to $X in 2022. Over the period under review, exports saw a deep setback. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Sierra Leone (X kg) and Liberia (X kg) dominates exports structure, together creating X% of total exports. Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Sierra Leone (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest parachute supplying countries in Western Africa were Sierra Leone ($X), Liberia ($X) and Ghana ($X), with a combined X% share of total exports.

Among the main exporting countries, Sierra Leone, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, increasing by X% against the previous year. Overall, the export price showed a tangible expansion. The most prominent rate of growth was recorded in 2017 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2018 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 Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Parachute Imports

Imports in Western Africa

In 2022, parachute imports in Western Africa soared to X tons, increasing by X% compared with the previous year's figure. Over the period under review, imports, however, faced a abrupt downturn. The most prominent rate of growth was recorded in 2014 when imports increased by X%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, parachute imports contracted notably to $X in 2022. Overall, imports, however, faced a abrupt setback. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Togo (X tons) and Ghana (X tons) represented the main importers of parachutes and rotochutes in 2022, reaching near X% and X% of total imports, respectively. It was distantly followed by Senegal (X tons) and Cote d'Ivoire (X tons), together committing a X% share of total imports.

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, Cote d'Ivoire ($X) constitutes the largest market for imported parachutes and rotochutes in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

In Cote d'Ivoire, parachute 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: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. In general, the import price, however, saw a mild expansion. The pace of growth appeared the most rapid in 2021 an increase of X% against the previous year. As a result, import price attained the peak level of $X per ton, and then reduced remarkably in the following year.

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 Cote d'Ivoire ($X per ton), while Togo ($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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