ECOWAS: Parachute Market 2024

Parachute Market Size in ECOWAS

In 2022, after five years of decline, there was growth in the ECOWAS parachute market, when its value increased by X% to $X. Over the period under review, consumption, however, showed a mild curtailment. Over the period under review, the market attained the maximum level at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Parachute Production in ECOWAS

In value terms, parachute production fell modestly to $X in 2022 estimated in export price. In general, production showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Parachute Exports

Exports in ECOWAS

In 2022, shipments abroad of parachutes and rotochutes decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. Over the period under review, exports showed a deep setback. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at X kg in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, parachute exports declined sharply to $X in 2022. Overall, exports showed a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sierra Leone (X kg) and Liberia (X kg) dominates exports structure, together comprising X% of total exports. Ghana (X kg) followed a long way behind the leaders.

From 2012 to 2022, 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, Sierra Leone ($X), Liberia ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

In terms of the main exporting countries, Sierra Leone, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the export price saw moderate growth. The most prominent rate of growth was recorded in 2017 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Sierra Leone ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (X%), while the other leaders experienced a decline in the export price figures.

Parachute Imports

Imports in ECOWAS

Parachute imports surged to X tons in 2022, with an increase of X% compared with 2021 figures. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, parachute imports shrank dramatically to $X in 2022. In general, imports, however, showed a abrupt descent. The most prominent rate of growth was recorded in 2014 with an increase of X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Togo (X tons) and Ghana (X tons) were the major importers of parachutes and rotochutes in ECOWAS, together comprising X% of total imports. Senegal (X tons) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Cote d'Ivoire (X%).

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported parachutes and rotochutes in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Ghana ($X), with an X% share of total imports. It was followed by Senegal, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at X%. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Senegal (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, waning by X% against the previous year. Overall, the import price recorded a deep setback. The growth pace was the most rapid in 2021 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton, and then fell sharply in the following year.

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 ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, 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 import price figures.

Source: IndexBox Platform

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