ECOWAS: Braces And Garters Market 2024

Braces And Garters Market Size in ECOWAS

The ECOWAS braces and garters market surged to $X in 2022, picking up by X% against the previous year. In general, consumption posted a resilient increase. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a somewhat lower figure.

Braces And Garters Production in ECOWAS

In value terms, braces and garters production soared to $X in 2022 estimated in export price. In general, production posted buoyant growth. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a somewhat lower figure.

Braces And Garters Exports

Exports in ECOWAS

In 2022, the amount of braces, suspenders and garters exported in ECOWAS shrank to X units, with a decrease of X% compared with the year before. Overall, exports continue to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The volume of export peaked at X units in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

In value terms, braces and garters exports dropped to $X in 2022. Over the period under review, exports faced a drastic downturn. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports remained at a lower figure.

Exports by Country

The shipments of the four major exporters of braces, suspenders and garters, namely Guinea, Ghana, Sierra Leone and Cote d'Ivoire, represented more than two-thirds of total export. Benin (X units) took a little share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Ghana (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Guinea ($X) and Sierra Leone ($X) were the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Ghana, with a CAGR of X%, saw the highest growth rate of the value of exports, among 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 unit in 2022, with an increase of X% against the previous year. Export price indicated pronounced growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, braces and garters export price decreased by X% against 2020 indices. The growth pace was the most rapid in 2017 an increase of X% against the previous year. The level of export peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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

From 2012 to 2022, 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.

Braces And Garters Imports

Imports in ECOWAS

For the third year in a row, ECOWAS recorded growth in purchases abroad of braces, suspenders and garters, which increased by X% to X units in 2022. Overall, imports continue to indicate a strong increase. The growth pace was the most rapid in 2020 with an increase of X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

In value terms, braces and garters imports skyrocketed to $X in 2022. In general, imports posted strong growth. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

Nigeria was the largest importer of braces, suspenders and garters in ECOWAS, with the volume of imports amounting to X units, which was near X% of total imports in 2022. Senegal (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%).

From 2012 to 2022, average annual rates of growth with regard to braces and garters imports into Nigeria stood at X%. At the same time, Burkina Faso (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. While the share of Nigeria (X p.p.) and Burkina Faso (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported braces, suspenders and garters in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Burkina Faso ($X), with a X% share of total imports.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, surging by X% against the previous year. Overall, the import price, however, saw a noticeable decline. The pace of growth was the most pronounced in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the 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 Burkina Faso ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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