ECOWAS: Braces And Garters Market 2024

Braces And Garters Market Size in ECOWAS

The ECOWAS braces and garters market shrank to $X in 2023, reducing by X% against the previous year. The total consumption indicated a notable increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. Over the period under review, the market reached the peak level at $X in 2021; however, from 2022 to 2023, consumption remained at a lower figure.

Braces And Garters Production in ECOWAS

In value terms, braces and garters production stood at $X in 2023 estimated in export price. The total production indicated pronounced growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Braces And Garters Exports

Exports in ECOWAS

In 2023, exports of braces, suspenders and garters in ECOWAS surged to X units, increasing by X% compared with the year before. Over the period under review, exports, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2023, the growth of the exports remained at a lower figure.

In value terms, braces and garters exports declined to $X in 2023. Overall, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria was the largest exporting country with an export of about X units, which recorded X% of total exports. It was distantly followed by Sierra Leone (X units), creating a X% share of total exports. The following exporters - Togo (X units), Senegal (X units) and Guinea (X units) - together made up X% of total exports.

Exports from Nigeria decreased at an average annual rate of X% from 2012 to 2023. At the same time, Sierra Leone (X%) displayed positive paces of growth. Moreover, Sierra Leone emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Togo (X%), Guinea (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Nigeria, Sierra Leone and Togo increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sierra Leone ($X) remains the largest braces and garters supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports. It was followed by Togo, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Sierra Leone totaled X%. In the other countries, the average annual rates were as follows: Nigeria (X% per year) and Togo (X% per year).

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, shrinking by X% against the previous year. Over the period under review, the export price saw a perceptible decline. The most prominent rate of growth was recorded in 2020 an increase of X%. As a result, the export price attained the peak level of $X per unit. From 2021 to 2023, 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 ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sierra Leone (X%), while the other leaders experienced more modest paces of growth.

Braces And Garters Imports

Imports in ECOWAS

After three years of growth, overseas purchases of braces, suspenders and garters decreased by X% to X units in 2023. In general, imports, however, saw buoyant growth. The pace of growth appeared the most rapid in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X units in 2022, and then dropped rapidly in the following year.

In value terms, braces and garters imports shrank significantly to $X in 2023. Over the period under review, imports, however, posted a prominent increase. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

Burkina Faso was the key importing country with an import of about X units, which resulted at X% of total imports. Ghana (X units) ranks second in terms of the total imports with a X% share, followed by Nigeria (X%). The following importers - Senegal (X units), Cote d'Ivoire (X units) and Benin (X units) - each resulted at a X% share of total imports.

From 2012 to 2023, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Burkina Faso ($X) constitutes the largest market for imported braces, suspenders and garters in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Senegal ($X), with a X% share of total imports. It was followed by Nigeria, with a X% share.

In Burkina Faso, braces and garters imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2014; however, from 2015 to 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: 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 2023, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform