Western Africa: Market for Mathematical instruments and equipment; n.e.s. in heading no. 9017 2024

Market Size for Mathematical instruments and equipment; n.e.s. in heading no. 9017 in Western Africa

The West African market for mathematical instruments and equipment; n.e.s. in heading no. Xs dropped notably to $X in 2023, waning by X% against the previous year. Overall, consumption recorded a notable expansion. As a result, consumption attained the peak level of $X, and then dropped significantly in the following year.

Production of Mathematical instruments and equipment; n.e.s. in heading no. X in Western Africa

In value terms, production of mathematical instruments and equipment; n.e.s. in heading no. Xs soared to $X in 2023 estimated in export price. The total production indicated prominent 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 increased by X% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, production of attained the peak level in 2023 and is expected to retain growth in years to come.

Exports of Mathematical instruments and equipment; n.e.s. in heading no. 9017

Exports in Western Africa

In 2023, overseas shipments of mathematical instruments and equipment; n.e.s. in heading no. Xs increased by X% to X units, rising for the third year in a row after two years of decline. Over the period under review, exports, however, continue to indicate a abrupt slump. The pace of growth was the most pronounced in 2018 when exports increased by X%. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

In value terms, exports of mathematical instruments and equipment; n.e.s. in heading no. Xs reduced slightly to $X in 2023. In general, exports, however, showed a noticeable downturn. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports of failed to regain momentum.

Exports by Country

Mali prevails in Xs structure, finishing at X units, which was near X% of total exports in 2023. It was distantly followed by Mauritania (X units), creating a X% share of total exports. The following exporters - Ghana (X units), Nigeria (X units) and Senegal (X units) - each finished at a X% share of total exports.

From 2012 to 2023, average annual rates of growth with regard to mathematical instruments and equipment; n.e.s. in heading no. X exports from Mali stood at X%. At the same time, Mauritania (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. Senegal experienced a relatively flat trend pattern. By contrast, Nigeria (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Mali and Mauritania 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 ($X) remains the largest mathematical instruments and equipment; n.e.s. in heading no. X supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

In Nigeria, exports of mathematical instruments and equipment; n.e.s. in heading no. Xs expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Mali (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, reducing by X% against the previous year. Over the period under review, the export price, however, saw strong growth. The most prominent rate of growth was recorded in 2014 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 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 Nigeria ($X per unit), while Mali (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 Nigeria (X%), while the other leaders experienced more modest paces of growth.

Imports of Mathematical instruments and equipment; n.e.s. in heading no. 9017

Imports in Western Africa

In 2023, overseas purchases of mathematical instruments and equipment; n.e.s. in heading no. Xs were finally on the rise to reach X units after three years of decline. Overall, imports recorded a mild increase. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, imports of mathematical instruments and equipment; n.e.s. in heading no. Xs expanded significantly to $X in 2023. In general, imports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2018 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at $X in 2015; however, from 2016 to 2023, imports remained at a lower figure.

Imports by Country

Guinea dominates Xs structure, amounting to X units, which was near X% of total imports in 2023. Nigeria (X units) ranks second in terms of the total imports with a X% share, followed by Liberia (X%). The following importers - Sierra Leone (X units), Benin (X units), Mali (X units), Mauritania (X units), Niger (X units) and Gambia (X units) - together made up X% of total imports.

From 2012 to 2023, average annual rates of growth with regard to mathematical instruments and equipment; n.e.s. in heading no. X imports into Guinea stood at X%. At the same time, Benin (X%), Gambia (X%), Mali (X%), Niger (X%), Sierra Leone (X%), Mauritania (X%) and Liberia (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Guinea (X p.p.), Benin (X p.p.), Liberia (X p.p.), Sierra Leone (X p.p.), Mali (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest mathematical instruments and equipment; n.e.s. in heading no. X importing markets in Western Africa were Guinea ($X), Nigeria ($X) and Sierra Leone ($X), with a combined X% share of total imports. Liberia, Mali, Benin, Gambia, Mauritania and Niger lagged somewhat behind, together accounting for a further X%.

Gambia, with a CAGR of X%, recorded the highest rates of growth with regard to 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

In 2023, the import price in Western Africa amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the import price, however, recorded a noticeable reduction. The pace of growth appeared the most rapid in 2016 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2017 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 Nigeria ($X per unit), while Guinea ($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 mixed trends in the import price figures.

Source: IndexBox Platform