Western Africa: Miscellaneous Ferro-Alloys Market 2024

Miscellaneous Ferro-Alloys Market Size in Western Africa

The West African miscellaneous ferro-alloys market reached $X in 2023, remaining stable against the previous year. Over the period under review, consumption enjoyed a resilient increase. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Miscellaneous Ferro-Alloys Production in Western Africa

In value terms, miscellaneous ferro-alloys production fell slightly to $X in 2023 estimated in export price. The total production indicated a strong expansion 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 2019 indices. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. Over the period under review, production attained the peak level at $X in 2019; however, from 2020 to 2023, production stood at a somewhat lower figure.

Miscellaneous Ferro-Alloys Exports

Exports in Western Africa

Miscellaneous ferro-alloys exports declined sharply to X tons in 2023, waning by X% against the previous year's figure. In general, exports, however, saw significant growth. The pace of growth appeared the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, miscellaneous ferro-alloys exports plummeted to $X in 2023. Overall, exports, however, saw a prominent increase. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Nigeria (X tons) was the major exporter of miscellaneous ferro-alloys, committing X% of total exports. It was distantly followed by Ghana (X tons), constituting a X% share of total exports.

Exports from Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Ghana (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Nigeria increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest miscellaneous ferro-alloys supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports.

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

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a deep slump. The growth pace was the most rapid in 2016 an increase of X% against the previous year. The level of export peaked at $X per ton in 2020; however, from 2021 to 2023, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Ghana amounted to $X per ton.

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

Miscellaneous Ferro-Alloys Imports

Imports in Western Africa

In 2023, purchases abroad of miscellaneous ferro-alloys increased by X% to X tons, rising for the second consecutive year after three years of decline. Overall, imports, however, saw a deep contraction. Over the period under review, imports attained the maximum at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, miscellaneous ferro-alloys imports soared to $X in 2023. Over the period under review, imports, however, saw a deep contraction. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Gambia was the key importer of miscellaneous ferro-alloys in Western Africa, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2023. Nigeria (X tons) held the second position in the ranking, followed by Mali (X tons). All these countries together took near X% share of total imports.

Gambia was also the fastest-growing in terms of the miscellaneous ferro-alloys imports, with a CAGR of X% from 2012 to 2023. At the same time, Mali (X%) displayed positive paces of growth. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Gambia (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Nigeria (X p.p.) displayed negative dynamics.

In value terms, Gambia ($X) constitutes the largest market for imported miscellaneous ferro-alloys in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total imports.

In Gambia, miscellaneous ferro-alloys imports increased at an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Mali (X% per year).

Import Prices by Country

In 2023, the import price in Western Africa amounted to $X per ton, picking up by X% against the previous year. Import price indicated a strong increase from 2012 to 2023: its price 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, miscellaneous ferro-alloys import price increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform