Western Africa: Spades And Shovels Market 2024

Spades And Shovels Market Size in Western Africa

After two years of decline, the West African spades and shovels market increased by X% to $X in 2023. Over the period under review, consumption, however, posted temperate growth. As a result, consumption attained the peak level of $X. From 2021 to 2023, the growth of the market failed to regain momentum.

Spades And Shovels Production in Western Africa

In value terms, spades and shovels production reduced to $X in 2023 estimated in export price. The total production indicated perceptible growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; afterwards, it flattened through to 2023.

Spades And Shovels Exports

Exports in Western Africa

In 2023, the amount of spades and shovels exported in Western Africa shrank to X tons, waning by X% on the year before. Overall, exports showed a deep reduction. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, spades and shovels exports declined to $X in 2023. In general, exports saw a pronounced downturn. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2023, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire represented the main exporting country with an export of around X tons, which amounted to X% of total exports. Guinea (X tons) ranks second in terms of the total exports with an X% share, followed by Senegal (X%), Cabo Verde (X%), Ghana (X%) and Nigeria (X%).

Exports from Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2023. At the same time, Cabo Verde (X%), Ghana (X%), Guinea (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. Cote d'Ivoire (X p.p.), Guinea (X p.p.), Senegal (X p.p.), Cabo Verde (X p.p.), Ghana (X p.p.) and Nigeria (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, the largest spades and shovels supplying countries in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Cabo Verde ($X), together comprising X% of total exports.

Cabo Verde, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, falling by X% against the previous year. In general, the export price, however, recorded a resilient increase. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. The level of export peaked at $X per ton in 2018; however, from 2019 to 2023, the export prices failed to regain momentum.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced more modest paces of growth.

Spades And Shovels Imports

Imports in Western Africa

In 2023, supplies from abroad of spades and shovels decreased by X% to X tons, falling for the third year in a row after two years of growth. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when imports increased by X%. As a result, imports attained the peak of X tons. From 2021 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, spades and shovels imports reached $X in 2023. Overall, imports, however, enjoyed a tangible increase. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Ghana (X tons) represented the key importer of spades and shovels, comprising X% of total imports. Burkina Faso (X tons) ranks second in terms of the total imports with a X% share, followed by Guinea (X%), Cote d'Ivoire (X%), Nigeria (X%) and Liberia (X%). Niger (X tons) held a relatively small share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Niger (X%), Cote d'Ivoire (X%), Burkina Faso (X%), Guinea (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Ghana (X p.p.), Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.), Guinea (X p.p.) and Niger (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X) constitutes the largest market for imported spades and shovels in Western Africa, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Liberia, with a X% share.

In Guinea, spades and shovels imports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Liberia (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, growing by X% against the previous year. Over the last eleven years, it increased at an average annual rate of X%. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2023, 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 Guinea ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform