Western Africa: Semiconductor Led Market 2024

Semiconductor Led Market Size in Western Africa

In 2023, the West African semiconductor LED market was finally on the rise to reach $X for the first time since 2019, thus ending a three-year declining trend. In general, consumption enjoyed a remarkable increase. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Semiconductor Led Production in Western Africa

In value terms, semiconductor LED production reached $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2023, production growth remained at a somewhat lower figure.

Semiconductor Led Exports

Exports in Western Africa

Semiconductor LED exports surged to X units in 2023, rising by X% on the previous year's figure. Over the period under review, exports saw a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X%. The volume of export peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, semiconductor LED exports soared to $X in 2023. Overall, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The level of export peaked in 2023 and is expected to retain growth in years to come.

Exports by Country

Nigeria was the key exporter of semiconductor light emitting diodes (LEDs) in Western Africa, with the volume of exports resulting at X units, which was approx. X% of total exports in 2023. Ghana (X units) held the second position in the ranking, followed by Mali (X units), Cabo Verde (X units), Togo (X units) and Mauritania (X units). All these countries together held approx. X% share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Mali (X%), Cabo Verde (X%), Togo (X%), Ghana (X%) and Mauritania (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. While the share of Nigeria (X p.p.), Mali (X p.p.), Cabo Verde (X p.p.), Ghana (X p.p.) and Togo (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Mauritania (X p.p.) displayed negative dynamics.

In value terms, the largest semiconductor LED supplying countries in Western Africa were Ghana ($X), Cabo Verde ($X) and Nigeria ($X), together comprising X% of total exports.

Among the main exporting countries, Cabo Verde, 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 2023, the export price in Western Africa amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2023, 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.

Semiconductor Led Imports

Imports in Western Africa

In 2023, overseas purchases of semiconductor light emitting diodes (LEDs) were finally on the rise to reach X units after three years of decline. Overall, imports posted noticeable growth. The most prominent rate of growth was recorded in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X units in 2019; however, from 2020 to 2023, imports failed to regain momentum.

In value terms, semiconductor LED imports totaled $X in 2023. Over the period under review, imports showed a slight expansion. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, imports reached the maximum at $X in 2019; however, from 2020 to 2023, imports failed to regain momentum.

Imports by Country

Nigeria (X units) and Ghana (X units) dominates imports structure, together generating X% of total imports. Guinea (X units), Cote d'Ivoire (X units), Togo (X units), Senegal (X units) and Mauritania (X units) followed a long way behind the leaders.

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

In value terms, the largest semiconductor LED importing markets in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Senegal ($X), with a combined X% share of total imports.

Cote d'Ivoire, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2023, the import price in Western Africa amounted to $X per unit, which is down by X% against the previous year. Overall, the import price showed a slight decrease. The pace of growth was the most pronounced in 2022 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per unit, and then contracted markedly in the following year.

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

From 2012 to 2023, 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