Western Africa: Plough Market 2024

Plough Market Size in Western Africa

In 2022, the West African plough market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, consumption, however, posted a strong increase. As a result, consumption reached the peak level of $X, and then reduced dramatically in the following year.

Plough Production in Western Africa

In value terms, plough production surged to $X in 2022 estimated in export price. In general, production, however, enjoyed significant growth. The growth pace was the most rapid in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Plough Exports

Exports in Western Africa

In 2022, plough exports in Western Africa soared to X units, picking up by X% compared with the previous year's figure. Over the period under review, exports saw a notable increase. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, plough exports declined dramatically to $X in 2022. In general, exports, however, continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Benin (X units) and Guinea (X units) were the main exporters of ploughs for agricultural purposes in 2022, resulting at near X% and X% of total exports, respectively. It was distantly followed by Ghana (X units), Nigeria (X units) and Senegal (X units), together committing a X% share of total exports. Cote d'Ivoire (X units) followed a long way behind the leaders.

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

In value terms, Nigeria ($X) remains the largest plough supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Benin ($X), with a X% share of total exports. It was followed by Guinea, with a X% share.

In Nigeria, plough exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Benin (X% per year) and Guinea (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, which is down by X% against the previous year. In general, the export price showed a deep contraction. The most prominent rate of growth was recorded in 2021 when the export price increased by X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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 Nigeria ($X per unit), while Senegal ($X per unit) 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 mixed trends in the export price figures.

Plough Imports

Imports in Western Africa

After five years of growth, overseas purchases of ploughs for agricultural purposes decreased by X% to X units in 2022. Overall, imports, however, recorded a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then fell markedly in the following year.

In value terms, plough imports contracted dramatically to $X in 2022. Over the period under review, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2021 when imports increased by X% against the previous year. As a result, imports reached the peak of $X, and then declined rapidly in the following year.

Imports by Country

In 2022, Nigeria (X units) represented the largest importer of ploughs for agricultural purposes, mixing up X% of total imports. It was distantly followed by Benin (X units) and Ghana (X units), together generating an X% share of total imports. Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to plough imports into Nigeria stood at X%. At the same time, Benin (X%), Cote d'Ivoire (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) and Benin (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported ploughs for agricultural purposes in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Benin, with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Benin (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, showed a abrupt shrinkage. Over the period under review, import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per unit), while Benin ($X per unit) 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 mixed trends in the import price figures.

Source: IndexBox Platform

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