ECOWAS: Festive Articles Market 2024

Festive Articles Market Size in ECOWAS

The ECOWAS festive articles market rose remarkably to $X in 2023, surging by X% against the previous year. Over the period under review, consumption continues to indicate buoyant growth. The level of consumption peaked in 2023 and is likely to see steady growth in the immediate term.

Festive Articles Production in ECOWAS

In value terms, festive articles production reached $X in 2023 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2023, production growth remained at a lower figure.

Festive Articles Exports

Exports in ECOWAS

In 2023, the amount of festive or carnival articles exported in ECOWAS soared to X tons, increasing by X% against 2022. In general, exports continue to indicate prominent growth. The growth pace was the most rapid in 2014 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2017; however, from 2018 to 2023, the exports stood at a somewhat lower figure.

In value terms, festive articles exports totaled $X in 2023. Overall, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Ghana represented the main exporter of festive or carnival articles in ECOWAS, with the volume of exports resulting at X tons, which was approx. X% of total exports in 2023. It was distantly followed by Liberia (X tons), Nigeria (X tons) and Cote d'Ivoire (X tons), together constituting a X% share of total exports. Burkina Faso (X kg), Senegal (X kg) and Mali (X kg) followed a long way behind the leaders.

Ghana was also the fastest-growing in terms of the festive or carnival articles exports, with a CAGR of X% from 2012 to 2023. At the same time, Liberia (X%), Cote d'Ivoire (X%), Senegal (X%) and Nigeria (X%) displayed positive paces of growth. Mali and Burkina Faso experienced a relatively flat trend pattern. From 2012 to 2023, the share of Ghana and Liberia increased by X and X percentage points, respectively.

In value terms, Burkina Faso ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2023, together comprising X% of total exports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. Overall, the export price saw a abrupt decrease. The pace of growth was the most pronounced in 2015 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2023, the export prices remained at a somewhat lower figure.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Festive Articles Imports

Imports in ECOWAS

In 2023, imports of festive or carnival articles in ECOWAS soared to X tons, growing by X% on the previous year. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by X%. The volume of import peaked in 2023 and is likely to continue growth in years to come.

In value terms, festive articles imports expanded notably to $X in 2023. In general, imports continue to indicate buoyant growth. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. Over the period under review, imports hit record highs in 2023 and are likely to continue growth in the near future.

Imports by Country

In 2023, Nigeria (X tons), distantly followed by Senegal (X tons), Togo (X tons), Burkina Faso (X tons), Cote d'Ivoire (X tons), Guinea (X tons) and Ghana (X tons) represented the major importers of festive or carnival articles, together mixing up X% 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 Ghana (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X), Cote d'Ivoire ($X) and Nigeria ($X) appeared to be the countries with the highest levels of imports in 2023, with a combined X% share of total imports. Guinea, Togo, Ghana and Burkina Faso lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Ghana, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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 ECOWAS amounted to $X per ton, reducing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 when the import price increased by X%. Over the period under review, import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2023, 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 Cote d'Ivoire ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform