Western Africa: Way-Type Unit Head Market 2024

Way-Type Unit Head Market Size in Western Africa

In 2021, after four years of growth, there was significant decline in the West African way-type unit head market, when its value decreased by -34.2% to $X. Overall, consumption, however, showed a significant increase. As a result, consumption attained the peak level of $X, and then contracted remarkably in the following year.

Way-Type Unit Head Production in Western Africa

In value terms, way-type unit head production shrank markedly to $X in 2021 estimated in export price. In general, production, however, showed significant growth. The growth pace was the most rapid in 2020 with an increase of 213% against the previous year. As a result, production attained the peak level of $X, and then shrank dramatically in the following year.

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Way-Type Unit Head Exports

Exports in Western Africa

In 2021, overseas shipments of way-type unit heads for working metal decreased by -2.6% to X kg, falling for the third year in a row after three years of growth. Over the period under review, exports saw a dramatic shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 324%. Over the period under review, the exports attained the maximum at X tons in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, way-type unit head exports soared to $X in 2021. Overall, exports saw a dramatic setback. The pace of growth appeared the most rapid in 2017 with an increase of 840%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria represented the key exporting country with an export of about X kg, which accounted for 86% of total exports. It was distantly followed by Guinea (X kg), mixing up an 11% share of total exports. Liberia (X kg) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to way-type unit head exports from Nigeria stood at -26.2%. At the same time, Guinea (+13.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +13.7% from 2012-2021. Liberia experienced a relatively flat trend pattern. From 2012 to 2021, the share of Guinea and Liberia increased by +11 and +2.6 percentage points, respectively.

In value terms, the largest way-type unit head supplying countries in Western Africa were Nigeria ($X), Liberia ($X) and Guinea ($X).

Liberia, with a CAGR of 0.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, surging by 47% against the previous year. In general, the export price, however, recorded a significant decrease. The growth pace was the most rapid in 2017 when the export price increased by 200% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Liberia ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Guinea (-22.4%).

Way-Type Unit Head Imports

Imports in Western Africa

Way-type unit head imports dropped modestly to X tons in 2021, with a decrease of -2.3% against 2020 figures. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when imports increased by 1,214% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, way-type unit head imports reduced to $X in 2021. Overall, imports recorded a pronounced reduction. The pace of growth was the most pronounced in 2015 when imports increased by 1,260%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana (X tons), Cote d'Ivoire (X tons) and Mauritania (X tons) represented roughly 83% of total imports in 2021. Nigeria (X tons) held a 5.9% share (based on physical terms) of total imports, which put it in second place, followed by Mali (4.7%). Niger (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +31.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Ghana ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2021, together accounting for 81% of total imports. These countries were followed by Mali, Mauritania and Niger, which together accounted for a further 7.1%.

Among the main importing countries, Mali, with a CAGR of +35.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, remaining constant against the previous year. Over the period under review, the import price, however, recorded a perceptible contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by 38% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2021, the import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+11.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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