ECOWAS: Electric Filament Lamp Market 2024

Electric Filament Lamp Market Size in ECOWAS

In 2021, the ECOWAS electric filament lamp market decreased by -1.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a relatively flat trend pattern. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Electric Filament Lamp Production in ECOWAS

In value terms, electric filament lamp production fell to $X in 2021 estimated in export price. The total production indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production increased by +63.6% against 2017 indices. The growth pace was the most rapid in 2018 when the production volume increased by 34%. Over the period under review, production reached the peak level at $X in 2020, and then shrank in the following year.

Electric Filament Lamp Exports

Exports in ECOWAS

In 2021, overseas shipments of electric filament lamps were finally on the rise to reach X units after four years of decline. Overall, exports, however, saw a noticeable downturn. The pace of growth was the most pronounced in 2016 when exports increased by 268% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2021, the growth of the exports remained at a lower figure.

In value terms, electric filament lamp exports soared to $X in 2021. In general, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2016 when exports increased by 83%. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Nigeria dominates exports structure, accounting for X units, which was approx. 85% of total exports in 2021. It was distantly followed by Burkina Faso (X units), constituting a 5.1% share of total exports. The following exporters - Niger (X units) and Ghana (X units) - each accounted for a 5.6% share of total exports.

Exports from Nigeria increased at an average annual rate of +4.8% from 2012 to 2021. At the same time, Niger (+13.1%) and Burkina Faso (+2.9%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +13.1% from 2012-2021. By contrast, Ghana (-7.6%) illustrated a downward trend over the same period. Nigeria (+39 p.p.), Niger (+2.1 p.p.) and Burkina Faso (+1.9 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -1.8% from 2012 to 2021, respectively.

In value terms, Nigeria ($X) remains the largest electric filament lamp supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was held by Niger ($X), with a 20% share of total exports. It was followed by Burkina Faso, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria totaled +7.0%. In the other countries, the average annual rates were as follows: Niger (+17.1% per year) and Burkina Faso (-10.2% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, shrinking by -19.6% against the previous year. In general, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 when the export price increased by 132% against the previous year. The level of export peaked at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+3.5%), while the other leaders experienced mixed trends in the export price figures.

Electric Filament Lamp Imports

Imports in ECOWAS

In 2021, purchases abroad of electric filament lamps decreased by -32.5% to X units, falling for the second year in a row after two years of growth. In general, imports recorded a deep setback. The pace of growth was the most pronounced in 2018 when imports increased by 197% against the previous year. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, electric filament lamp imports contracted modestly to $X in 2021. Overall, imports showed a mild decrease. The growth pace was the most rapid in 2013 when imports increased by 83% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports remained at a lower figure.

Imports by Country

Nigeria represented the main importer of electric filament lamps in ECOWAS, with the volume of imports reaching X units, which was near 44% of total imports in 2021. Burkina Faso (X units) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Togo (8.3%), Senegal (7.9%), Guinea (5.9%) and Ghana (5.4%). Benin (X units) and Liberia (X units) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to electric filament lamp imports into Nigeria stood at -15.8%. At the same time, Benin (+61.9%), Guinea (+23.2%), Liberia (+21.9%), Senegal (+14.5%), Burkina Faso (+14.2%) and Togo (+1.4%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +61.9% from 2012-2021. By contrast, Ghana (-9.2%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Burkina Faso, Senegal, Guinea, Togo, Benin and Liberia increased by +15, +6.9, +5.5, +5.2, +3.7 and +1.8 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X), Ghana ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2021, with a combined 52% share of total imports. Benin, Liberia, Burkina Faso, Senegal and Togo lagged somewhat behind, together comprising a further 25%.

Among the main importing countries, Benin, with a CAGR of +43.8%, recorded 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 2021, the import price in ECOWAS amounted to $X per unit, growing by 45% against the previous year. In general, the import price showed a strong increase. The pace of growth appeared the most rapid in 2014 when the import price increased by 188%. Over the period under review, import prices attained the maximum at $X per unit in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guinea ($X per unit), while Togo (less than $X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+24.6%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :