ECOWAS: Relay Market 2024

Relay Market Size in ECOWAS

The ECOWAS relay market declined modestly to $X in 2022, falling by X% against the previous year. The total consumption indicated prominent 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, consumption decreased by X% against 2019 indices. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Relay Production in ECOWAS

In value terms, relay production contracted slightly to $X in 2022 estimated in export price. The total production indicated a resilient increase 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 2019 indices. The growth pace was the most rapid in 2019 with an increase of X%. As a result, production reached the peak level of $X. From 2020 to 2022, production growth failed to regain momentum.

Relay Exports

Exports in ECOWAS

In 2022, the amount of relays exported in ECOWAS dropped to X units, which is down by X% compared with the previous year's figure. Overall, exports, however, recorded a mild increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then reduced in the following year.

In value terms, relay exports reduced markedly to $X in 2022. Over the period under review, exports recorded a noticeable slump. The growth pace was the most rapid in 2014 with an increase of X%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Benin (X units) and Cote d'Ivoire (X units) represented roughly X% of total exports in 2022. It was distantly followed by Sierra Leone (X units), comprising an X% share of total exports. Mali (X units), Ghana (X units), Liberia (X units) and Senegal (X units) took a minor share of total exports.

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

In value terms, Benin ($X), Sierra Leone ($X) and Ghana ($X) were the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Cote d'Ivoire, Mali, Liberia and Senegal lagged somewhat behind, together comprising a further X%.

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

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, waning by X% against the previous year. Over the period under review, the export price continues to indicate a pronounced decline. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. Over the period under review, the export prices reached the peak figure at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Ghana ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

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

Relay Imports

Imports in ECOWAS

In 2022, overseas purchases of relays decreased by X% to X units, falling for the second year in a row after four years of growth. In general, imports, however, enjoyed a prominent expansion. The pace of growth was the most pronounced in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, relay imports dropped to $X in 2022. The total import value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Nigeria (X units), Senegal (X units), Ghana (X units), Benin (X units), Cote d'Ivoire (X units) and Burkina Faso (X units) was the main importer of relays in ECOWAS, achieving X% of total import. Guinea (X units) held a minor share of total imports.

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

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Senegal, Burkina Faso, Guinea and Benin lagged somewhat behind, together comprising a further X%.

Benin, 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

The import price in ECOWAS stood at $X per unit in 2022, increasing by X% against the previous year. In general, the import price, however, showed a pronounced setback. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. The level of import peaked at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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