ECOWAS: Electrical Circuit Apparatus Market 2024

Electrical Circuit Apparatus Exports

Exports in ECOWAS

Electrical circuit apparatus exports surged to X units in 2021, increasing by X% compared with the year before. Total exports indicated mild growth from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked in 2021 and is likely to continue growth in years to come.

In value terms, electrical circuit apparatus exports reached $X in 2021. In general, exports, however, continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2019 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria represented the key exporter of electrical apparatus for circuit connection, switching and protection in ECOWAS, with the volume of exports reaching X units, which was near X% of total exports in 2021. Ghana (X units) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Togo (X%), Benin (X%), Burkina Faso (X%) and Cote d'Ivoire (X%). Sierra Leone (X units) took a little share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2021. At the same time, Ghana (X%), Benin (X%) and Togo (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2021. By contrast, Burkina Faso (X%), Cote d'Ivoire (X%) and Sierra Leone (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Ghana (X p.p.), Togo (X p.p.) and Benin (X p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.) and Sierra Leone (X p.p.) displayed negative dynamics.

In value terms, the largest electrical circuit apparatus supplying countries in ECOWAS were Nigeria ($X), Benin ($X) and Sierra Leone ($X), together accounting for X% of total exports.

Among the main exporting countries, Benin, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price saw a abrupt decrease. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2021, 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 Sierra Leone ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Electrical Circuit Apparatus Imports

Imports in ECOWAS

In 2021, imports of electrical apparatus for circuit connection, switching and protection in ECOWAS soared to X units, increasing by X% on the year before. Total imports indicated a strong expansion from 2012 to 2021: its volume increased at an average annual rate of X% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked in 2021 and is likely to see steady growth in years to come.

In value terms, electrical circuit apparatus imports expanded markedly to $X in 2021. The total import value increased at an average annual rate of X% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure in 2021 and are likely to continue growth in the near future.

Imports by Country

Nigeria was the key importer of electrical apparatus for circuit connection, switching and protection in ECOWAS, with the volume of imports resulting at X units, which was near X% of total imports in 2021. Ghana (X units) took the second position in the ranking, followed by Cote d'Ivoire (X units) and Senegal (X units). All these countries together took near X% share of total imports. Guinea (X units), Benin (X units) and Burkina Faso (X units) took a little share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2021. At the same time, Guinea (X%), Cote d'Ivoire (X%), Senegal (X%), Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2021. Burkina Faso experienced a relatively flat trend pattern. From 2012 to 2021, the share of Nigeria and Cote d'Ivoire increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported electrical apparatus for circuit connection, switching and protection in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with a X% share of total imports. It was followed by Cote d'Ivoire, with a X% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, dropping by X% against the previous year. Overall, the import price saw a noticeable downturn. The pace of growth was the most pronounced in 2018 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a 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 Burkina Faso ($X per unit), while Benin ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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