Western Africa: Spectacle Glass Lenses Market 2024

Spectacle Glass Lenses Market Size in Western Africa

The West African spectacle glass lenses market dropped slightly to $X in 2023, remaining stable against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $X in 2019; however, from 2020 to 2023, consumption stood at a somewhat lower figure.

Spectacle Glass Lenses Production in Western Africa

In value terms, spectacle glass lenses production shrank slightly to $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 throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Spectacle Glass Lenses Exports

Exports in Western Africa

After four years of growth, overseas shipments of spectacle lenses of glass or other materials decreased by X% to X units in 2023. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2022 with an increase of X%. The volume of export peaked at X units in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

In value terms, spectacle glass lenses exports contracted dramatically to $X in 2023. In general, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2017 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Benin represented the largest exporter of spectacle lenses of glass or other materials in Western Africa, with the volume of exports amounting to X units, which was near X% of total exports in 2023. Cote d'Ivoire (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%), Nigeria (X%) and Togo (X%). Senegal (X units) and Gambia (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to spectacle glass lenses exports from Benin stood at X%. At the same time, Togo (X%), Nigeria (X%), Gambia (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Senegal (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Benin (X p.p.), Cote d'Ivoire (X p.p.), Nigeria (X p.p.), Togo (X p.p.) and Gambia (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Senegal (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Benin ($X) remains the largest spectacle glass lenses supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Ghana, with an X% share.

In Benin, spectacle glass lenses exports increased 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: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, stabilizing at the previous year. In general, the export price recorded a tangible expansion. The pace of growth was the most pronounced in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2020 to 2023, the export prices remained at a lower figure.

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

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

Spectacle Glass Lenses Imports

Imports in Western Africa

Spectacle glass lenses imports was estimated at X units in 2023, with an increase of X% compared with 2022 figures. In general, imports posted resilient growth. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the maximum in 2023 and are likely to see steady growth in years to come.

In value terms, spectacle glass lenses imports expanded remarkably to $X in 2023. Overall, imports saw a strong expansion. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in the near future.

Imports by Country

Ghana (X units), Cote d'Ivoire (X units), Nigeria (X units), Senegal (X units), Cabo Verde (X units) and Burkina Faso (X units) represented roughly X% of total imports in 2023. It was distantly followed by Benin (X units), achieving a X% share of total imports.

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

In value terms, the largest spectacle glass lenses importing markets in Western Africa were Cote d'Ivoire ($X), Senegal ($X) and Nigeria ($X), with a combined X% share of total imports. Cabo Verde, Burkina Faso, Ghana and Benin lagged somewhat behind, together comprising a further X%.

Benin, with a CAGR of X%, saw 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, almost unchanged from the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, import prices remained at a lower figure.

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

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

Source: IndexBox Platform