Western Africa: Razor Market 2024

Razor Market Size in Western Africa

In 2022, the West African razor market decreased by X% to $X, falling for the second consecutive year after two years of growth. The total consumption indicated a mild increase 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, consumption decreased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Razor Production in Western Africa

In value terms, razor production soared to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2020 when the production volume increased by X% against the previous year. Over the period under review, production hit record highs at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Razor Exports

Exports in Western Africa

Razor exports soared to X units in 2022, jumping by X% against the previous year. Over the period under review, exports showed a prominent increase. The most prominent rate of growth was recorded in 2020 with an increase of X%. Over the period under review, the exports hit record highs at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, razor exports surged to $X in 2022. In general, exports saw a resilient expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal dominates exports structure, recording X units, which was near X% of total exports in 2022. It was distantly followed by Cote d'Ivoire (X units), making up a X% share of total exports. Guinea (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to razor exports from Senegal stood at X%. At the same time, Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Senegal (X p.p.), Guinea (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest razor supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Senegal stood at X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (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, growing by X% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a 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 Cote d'Ivoire ($X per unit), while Guinea ($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 a decline in the export price figures.

Razor Imports

Imports in Western Africa

In 2022, overseas purchases of razors decreased by X% to X units, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, showed a remarkable increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports failed to regain momentum.

In value terms, razor imports fell modestly to $X in 2022. Total imports indicated a buoyant 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana was the key importing country with an import of around X units, which amounted to X% of total imports. It was distantly followed by Nigeria (X units), Senegal (X units), Guinea (X units) and Cote d'Ivoire (X units), together generating a X% share of total imports. The following importers - Sierra Leone (X units) and Benin (X units) - each recorded a X% share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Sierra Leone (X%), Senegal (X%), Guinea (X%), Benin (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Senegal (X p.p.), Guinea (X p.p.) and Sierra Leone (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) and Cote d'Ivoire (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest razor importing markets in Western Africa were Ghana ($X), Nigeria ($X) and Sierra Leone ($X), together comprising X% of total imports.

Sierra Leone, with a CAGR of X%, saw the highest growth rate of 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, increasing by X% against the previous year. Over the period under review, the import price, however, showed a mild setback. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Sierra Leone ($X per unit), while Benin (less than $X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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