ECOWAS: Semiconductor Device Market 2024

Semiconductor Device Market Size in ECOWAS

The ECOWAS semiconductor device market skyrocketed to $X in 2023, growing by X% against the previous year. In general, consumption, however, showed a perceptible slump. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2023, consumption remained at a lower figure.

Semiconductor Device Production in ECOWAS

In value terms, semiconductor device production skyrocketed to $X in 2023 estimated in export price. Overall, production, however, continues to indicate a slight setback. The pace of growth appeared the most rapid in 2021 with an increase of X%. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Semiconductor Device Exports

Exports in ECOWAS

In 2023, shipments abroad of semiconductor devices decreased by X% to X units, falling for the third consecutive year after two years of growth. Overall, exports, however, enjoyed a resilient expansion. The pace of growth appeared the most rapid in 2015 with an increase of X%. As a result, the exports attained the peak of X units. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, semiconductor device exports amounted to $X in 2023. In general, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Senegal prevails in exports structure, finishing at X units, which was approx. X% of total exports in 2023. It was distantly followed by Cote d'Ivoire (X units), comprising a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to semiconductor device exports from Senegal stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. Cote d'Ivoire (X p.p.) and Senegal (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest semiconductor device supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2023, the average annual growth rate of value in Senegal totaled X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, rising by X% against the previous year. Overall, the export price, however, saw a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2023, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Cote d'Ivoire stood at less than $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Semiconductor Device Imports

Imports in ECOWAS

Semiconductor device imports shrank to X units in 2023, which is down by X% on 2022. In general, imports showed a noticeable decline. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2016; however, from 2017 to 2023, imports failed to regain momentum.

In value terms, semiconductor device imports reduced to $X in 2023. Over the period under review, imports continue to indicate a deep reduction. The growth pace was the most rapid in 2016 when imports increased by X%. The level of import peaked at $X in 2017; however, from 2018 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Cote d'Ivoire (X units) represented the key importer of semiconductor devices, creating X% of total imports. Ghana (X units) took the second position in the ranking, followed by Niger (X units), Senegal (X units) and Guinea-Bissau (X units). All these countries together took near X% share of total imports. Cabo Verde (X units) took a minor share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Niger (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Senegal ($X) were the countries with the highest levels of imports in 2023, together accounting for X% of total imports. Niger, Cabo Verde and Guinea-Bissau lagged somewhat behind, together comprising a further X%.

Niger, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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 2023, flattening at the previous year. Overall, the import price, however, saw a perceptible shrinkage. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. As a result, import price attained the peak level of $X per unit. From 2018 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cabo Verde ($X per unit), while Niger (less than $X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Guinea-Bissau (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform