ECOWAS: Market for Precious Metal-Clad Goldsmiths Articles of Base Metals 2024

Market Size for Precious Metal-Clad Goldsmiths Articles of Base Metals in ECOWAS

The ECOWAS market for precious metal-clad goldsmiths articles of base metals soared to $X in 2022, with an increase of X% against the previous year. Over the period under review, consumption, however, saw a deep reduction. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Production of Precious Metal-Clad Goldsmiths Articles of Base Metals in ECOWAS

In value terms, production of precious metal-clad goldsmiths articles of base metals reached $X in 2022 estimated in export price. In general, production recorded moderate growth. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Exports of Precious Metal-Clad Goldsmiths Articles of Base Metals

Exports in ECOWAS

Exports of precious metal-clad goldsmiths articles of base metals surged to X tons in 2022, with an increase of X% on 2021. In general, exports recorded a significant expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, exports of precious metal-clad goldsmiths articles of base metals amounted to $X in 2022. Overall, exports posted prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports failed to regain momentum.

Exports by Country

The biggest shipments were from Nigeria (X tons), together resulting at X% of total export.

Nigeria was also the fastest-growing in terms of the precious metal-clad goldsmiths articles of base metals exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest precious metal-clad goldsmiths article of base metals supplier in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Nigeria was relatively modest.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Overall, the export price saw a sharp reduction. The most prominent rate of growth was recorded 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 2022, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Imports of Precious Metal-Clad Goldsmiths Articles of Base Metals

Imports in ECOWAS

In 2022, approx. X tons of precious metal-clad goldsmiths articles of base metals were imported in ECOWAS; waning by X% against the previous year's figure. Overall, imports saw a abrupt downturn. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of precious metal-clad goldsmiths articles of base metals declined to $X in 2022. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports of hit record highs at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Niger represented the main importing country with an import of around X tons, which amounted to X% of total imports. Cote d'Ivoire (X kg) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Togo (X%). Cabo Verde (X kg) followed a long way behind the leaders.

Niger experienced a relatively flat trend pattern with regard to volume of imports of precious metal-clad goldsmiths articles of base metals. At the same time, Cabo Verde (X%), Togo (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Niger, Togo, Cote d'Ivoire and Cabo Verde increased by X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported precious metal-clad goldsmiths articles of base metals in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Togo ($X), with a X% share of total imports. It was followed by Cabo Verde, with a X% share.

In Cote d'Ivoire, imports of precious metal-clad goldsmiths articles of base metals expanded at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Togo (X% per year) and Cabo Verde (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with a decrease of X% against the previous year. Overall, the import price, however, recorded a pronounced expansion. The pace of growth was the most pronounced in 2013 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cabo Verde (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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