Western Africa: Market for Pen Or Pencil Sets 2023

Market Size for Pen Or Pencil Sets in Western Africa

The West African pen or pencil sets market reduced to $X in 2022, which is down by -5.6% against the previous year. Overall, consumption, however, showed a pronounced setback. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Pen Or Pencil Sets in Western Africa

In value terms, pen or pencil sets production declined to $X in 2022 estimated in export price. Over the period under review, production, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2015 with an increase of 27%. Over the period under review, production attained the maximum level at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Exports of Pen Or Pencil Sets

Exports in Western Africa

In 2022, shipments abroad of pen or pencil sets decreased by 0% to X units, falling for the second consecutive year after two years of decline. Overall, exports showed a precipitous decrease. The pace of growth appeared the most rapid in 2013 when exports increased by 1,125%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pen or pencil sets exports totaled $X in 2022. Over the period under review, exports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 when exports increased by 1,097%. As a result, the exports attained the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, increasing by 8% against the previous year. In general, the export price enjoyed a measured increase. The most prominent rate of growth was recorded in 2014 an increase of 166%. As a result, the export price reached the peak level of $X per unit. From 2015 to 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to -4.7% per year.

Imports of Pen Or Pencil Sets

Imports in Western Africa

For the fourth consecutive year, Western Africa recorded growth in supplies from abroad of pen or pencil sets, which increased by 29% to X units in 2022. Over the period under review, imports enjoyed a resilient expansion. The growth pace was the most rapid in 2020 with an increase of 118%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, pen or pencil sets imports reached $X in 2022. In general, imports posted a strong expansion. The pace of growth was the most pronounced in 2017 with an increase of 124%. The level of import peaked at $X in 2015; afterwards, it flattened through to 2022.

Imports by Country

In 2022, Ghana (X units), distantly followed by Senegal (X units), Cote d'Ivoire (X units), Togo (X units), Nigeria (X units) and Burkina Faso (X units) were the key importers of pen or pencil sets, together comprising 87% of total imports. Guinea (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Senegal (with a CAGR of +37.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 68% share of total imports.

Ghana, with a CAGR of +37.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 unit in 2022, dropping by -21.8% against the previous year. Over the period under review, the import price continues to indicate a abrupt shrinkage. The pace of growth was the most pronounced in 2015 when the import price increased by 43%. As a result, import price attained the peak level of $X per unit. From 2016 to 2022, the import prices remained at a somewhat 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 Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+6.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Market Intelligence Platform

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