ECOWAS: Electric Lamp Market 2024

Electric Lamp Market Size in ECOWAS

In 2022, the ECOWAS electric lamp market decreased by X% to $X, falling for the second year in a row after three years of growth. In general, consumption recorded a slight slump. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption remained at a lower figure.

Electric Lamp Production in ECOWAS

In value terms, electric lamp production stood at $X in 2022 estimated in export price. The total production indicated moderate growth 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 decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Electric Lamp Exports

Exports in ECOWAS

Electric lamp exports contracted dramatically to X units in 2022, dropping by X% against the previous year's figure. In general, exports recorded a pronounced downturn. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X units in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, electric lamp exports contracted to $X in 2022. Over the period under review, exports saw a pronounced setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Ghana (X units) represented the key exporter of electric lamps, mixing up X% of total exports. Cote d'Ivoire (X units) ranks second in terms of the total exports with a X% share, followed by Nigeria (X%). Guinea (X units) took a minor share of total exports.

From 2012 to 2022, average annual rates of growth with regard to electric lamp exports from Ghana stood at X%. At the same time, Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported 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, Cote d'Ivoire and Guinea increased by X, X and X percentage points, respectively.

In value terms, Ghana ($X) remains the largest electric lamp supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

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

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, surging by X% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, 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 Nigeria ($X per unit), while Cote d'Ivoire ($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 a decline in the export price figures.

Electric Lamp Imports

Imports in ECOWAS

In 2022, overseas purchases of electric lamps decreased by X% to X units, falling for the second consecutive year after three years of growth. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2019 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, electric lamp imports shrank sharply to $X in 2022. Over the period under review, imports continue to indicate a mild slump. The pace of growth was the most pronounced 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 2022, imports failed to regain momentum.

Imports by Country

Nigeria was the major importer of electric lamps in ECOWAS, with the volume of imports amounting to X units, which was near X% of total imports in 2022. Ghana (X units) took the second position in the ranking, distantly followed by Cote d'Ivoire (X units), Guinea (X units) and Togo (X units). All these countries together held approx. X% share of total imports. The following importers - Sierra Leone (X units) and Senegal (X units) - each resulted at a X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest electric lamp importing markets in ECOWAS were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together comprising X% of total imports. Guinea, Sierra Leone, Senegal and Togo lagged somewhat behind, together accounting for a further X%.

Sierra Leone, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries 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, with a decrease of X% against the previous year. Over the period under review, the import price, however, saw a remarkable increase. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per unit in 2016; however, from 2017 to 2022, import prices failed to regain momentum.

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 Sierra Leone ($X per unit), while Togo ($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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