ECOWAS: Drawing Board Market 2024

Drawing Board Market Size in ECOWAS

The ECOWAS drawing board market rose significantly to $X in 2023, picking up by X% against the previous year. Overall, consumption continues to indicate a resilient expansion. The level of consumption peaked in 2023 and is expected to retain growth in the near future.

Drawing Board Production in ECOWAS

In value terms, drawing board production reached $X in 2023 estimated in export price. The total production indicated a moderate increase from 2012 to 2023: its value 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, production decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by X%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2023, production remained at a lower figure.

Drawing Board Exports

Exports in ECOWAS

For the third consecutive year, ECOWAS recorded decline in shipments abroad of slates and boards with writing or drawing surfaces, which decreased by X% to X units in 2023. In general, exports continue to indicate a significant decrease. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2023, the exports remained at a lower figure.

In value terms, drawing board exports contracted dramatically to $X in 2023. Over the period under review, exports continue to indicate a sharp contraction. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Sierra Leone (X units) and Ghana (X units) represented the major exporters of slates and boards with writing or drawing surfaces in 2023, resulting at approx. X% and X% of total exports, respectively. Senegal (X units) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Gambia (X%) and Cote d'Ivoire (X%).

From 2012 to 2023, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, Senegal ($X), Sierra Leone ($X) and Ghana ($X) were the countries with the highest levels of exports in 2023, with a combined X% share of total exports.

Sierra Leone, 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 a decline in the exports figures.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, surging by X% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The pace of growth appeared the most rapid in 2022 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure in 2023 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per unit), while Sierra Leone ($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.

Drawing Board Imports

Imports in ECOWAS

In 2023, purchases abroad of slates and boards with writing or drawing surfaces increased by X% to X units, rising for the third consecutive year after two years of decline. Over the period under review, imports saw strong growth. The pace of growth appeared the most rapid in 2022 when imports increased by X%. Over the period under review, imports reached the maximum in 2023 and are likely to continue growth in years to come.

In value terms, drawing board imports skyrocketed to $X in 2023. In general, imports showed a strong increase. The pace of growth was the most pronounced in 2022 when imports increased by X% against the previous year. The level of import peaked in 2023 and is expected to retain growth in the near future.

Imports by Country

Nigeria dominates imports structure, amounting to X units, which was approx. X% of total imports in 2023. Cote d'Ivoire (X units) took the second position in the ranking, followed by Senegal (X units) and Ghana (X units). All these countries together held near X% share of total imports. The following importers - Guinea (X units), Burkina Faso (X units) and Benin (X units) - together made up X% of total imports.

Nigeria was also the fastest-growing in terms of the slates and boards with writing or drawing surfaces imports, with a CAGR of X% from 2012 to 2023. At the same time, Senegal (X%), Guinea (X%), Benin (X%), Ghana (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Burkina Faso (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Ghana (X p.p.), Cote d'Ivoire (X p.p.) and Burkina Faso (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported slates and boards with writing or drawing surfaces in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Guinea, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Guinea (X% per year).

Import Prices by Country

In 2023, the import price in ECOWAS amounted to $X per unit, increasing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per unit in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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 Guinea ($X per unit), while Ghana ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform