Western Africa: Bracelet Market 2024

Bracelet Market Size in Western Africa

The West African bracelet market rose slightly to $X in 2022, growing by X% against the previous year. The total consumption indicated a notable 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, consumption increased by X% against 2019 indices. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Bracelet Production in Western Africa

In value terms, bracelet production totaled $X in 2022 estimated in export price. The total production indicated a pronounced 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, production increased by X% against 2019 indices. The growth pace was the most rapid in 2017 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Bracelet Exports

Exports in Western Africa

In 2022, overseas shipments of watch straps, bands and bracelets decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, showed a buoyant increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units, and then shrank dramatically in the following year.

In value terms, bracelet exports dropped remarkably to $X in 2022. Overall, exports recorded a slight decrease. The pace of growth appeared the most rapid in 2016 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal was the main exporter of watch straps, bands and bracelets in Western Africa, with the volume of exports reaching X units, which was near X% of total exports in 2022. It was distantly followed by Nigeria (X units), mixing up a X% share of total exports.

Senegal was also the fastest-growing in terms of the watch straps, bands and bracelets exports, with a CAGR of X% from 2012 to 2022. Nigeria experienced a relatively flat trend pattern. Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest bracelet supplying countries in Western Africa were Nigeria ($X) and Senegal ($X).

Senegal, with a CAGR of X%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the export price saw a abrupt setback. The growth pace was the most rapid in 2014 when the export price increased by X%. 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.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Senegal amounted to $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Bracelet Imports

Imports in Western Africa

In 2022, the amount of watch straps, bands and bracelets imported in Western Africa soared to X units, with an increase of X% on the year before. Over the period under review, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2020 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, bracelet imports rose notably to $X in 2022. In general, imports, however, recorded a pronounced reduction. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire was the largest importer of watch straps, bands and bracelets in Western Africa, with the volume of imports finishing at X units, which was near X% of total imports in 2022. Senegal (X units) took the second position in the ranking, followed by Burkina Faso (X units), Nigeria (X units) and Niger (X units). All these countries together held near X% share of total imports. The following importers - Ghana (X units) and Benin (X units) - together made up X% 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 Burkina Faso (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported watch straps, bands and bracelets in Western Africa, comprising X% of total imports. The second position in the ranking was held by Niger ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Niger (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per unit, dropping by X% against the previous year. In general, the import price recorded a perceptible decline. The growth pace was the most rapid in 2021 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a 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 Niger ($X per unit), while Senegal ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform