ECOWAS: Domestic Electro-Thermic Appliances Market 2024

Domestic Electro-Thermic Appliances Market Size in ECOWAS

The ECOWAS domestic electro-thermic appliances market fell to $X in 2022, stabilizing at the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the maximum level at $X in 2018; afterwards, it flattened through to 2022.

Domestic Electro-Thermic Appliances Production in ECOWAS

In value terms, domestic electro-thermic appliances production stood at $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 when the production volume increased by X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Domestic Electro-Thermic Appliances Exports

Exports in ECOWAS

In 2022, overseas shipments of domestic electro-thermic appliances decreased by X% to X units, falling for the third year in a row after two years of growth. Overall, exports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, domestic electro-thermic appliances exports fell sharply to $X in 2022. Over the period under review, exports showed a pronounced decrease. The growth pace was the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2021, and then fell remarkably in the following year.

Exports by Country

Ghana was the major exporting country with an export of about X units, which resulted at X% of total exports. It was distantly followed by Senegal (X units), Nigeria (X units), Sierra Leone (X units), Cote d'Ivoire (X units) and Liberia (X units), together committing 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 domestic electro-thermic appliances exports from Ghana stood at X%. At the same time, Liberia (X%), Cote d'Ivoire (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Senegal (X%), Nigeria (X%) and Sierra Leone (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Liberia (X p.p.) and Cote d'Ivoire (X p.p.) significantly strengthened its position in terms of the total exports, while Senegal, Nigeria and Sierra Leone saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) emerged as the largest domestic electro-thermic appliances supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Sierra Leone stood at X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, falling by X% against the previous year. In general, the export price continues to indicate a mild decline. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2021, and then dropped sharply in the following year.

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 Sierra Leone ($X per unit), while Ghana ($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 mixed trends in the export price figures.

Domestic Electro-Thermic Appliances Imports

Imports in ECOWAS

In 2022, domestic electro-thermic appliances imports in ECOWAS rose markedly to X units, with an increase of X% compared with 2021 figures. Overall, imports continue to indicate a buoyant increase. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The volume of import peaked in 2022 and is likely to continue growth in the immediate term.

In value terms, domestic electro-thermic appliances imports contracted modestly to $X in 2022. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana represented the key importing country with an import of about X units, which amounted to X% of total imports. Nigeria (X units) ranks second in terms of the total imports with a X% share, followed by Guinea (X%) and Cote d'Ivoire (X%). Liberia (X units), Senegal (X units) and Sierra Leone (X units) held a little share of total imports.

Imports into Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Guinea (X%), Liberia (X%), Sierra Leone (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Guinea and Liberia increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest domestic electro-thermic appliances importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Guinea ($X), with a combined X% share of total imports.

Among the main importing countries, Guinea, with a CAGR of X%, saw the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per unit, falling by X% against the previous year. In general, the import price showed a noticeable curtailment. The growth pace was the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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