Western Africa: Agricultural Harvester Market 2024

Agricultural Harvester Market Size in Western Africa

In 2023, the West African agricultural harvester market increased by X% to $X, rising for the seventh year in a row after four years of decline. Over the period under review, consumption showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the market value increased by X%. Over the period under review, the market attained the maximum level in 2023 and is likely to continue growth in the near future.

Agricultural Harvester Production in Western Africa

In value terms, agricultural harvester production expanded notably to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Agricultural Harvester Exports

Exports in Western Africa

Agricultural harvester exports skyrocketed to X units in 2023, growing by X% against 2022 figures. Overall, exports saw a moderate increase. The pace of growth appeared the most rapid in 2013 with an increase of X%. The volume of export peaked at X units in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

In value terms, agricultural harvester exports declined to $X in 2023. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2023, the growth of the exports remained at a lower figure.

Exports by Country

Senegal dominates exports structure, reaching X units, which was near X% of total exports in 2023. It was distantly followed by Ghana (X units), creating an X% share of total exports. The following exporters - Mali (X units) and Burkina Faso (X units) - each finished at a X% share of total exports.

Senegal was also the fastest-growing in terms of the agricultural harvesters exports, with a CAGR of X% from 2012 to 2023. Ghana (X%), Burkina Faso (X%) and Mali (X%) illustrated a downward trend over the same period. While the share of Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Burkina Faso (X p.p.), Ghana (X p.p.) and Mali (X p.p.) displayed negative dynamics.

In value terms, Senegal ($X) remains the largest agricultural harvester supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Ghana ($X), with a X% share of total exports. It was followed by Burkina Faso, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Senegal totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Burkina Faso (X% per year).

Export Prices by Country

In 2023, the export price in Western Africa amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2021 to 2023, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Ghana ($X per unit), while Mali ($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.

Agricultural Harvester Imports

Imports in Western Africa

In 2023, purchases abroad of agricultural harvesters increased by X% to X units, rising for the seventh consecutive year after two years of decline. Over the period under review, imports saw a prominent increase. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The volume of import peaked in 2023 and is likely to continue growth in the immediate term.

In value terms, agricultural harvester imports reduced notably to $X in 2023. Overall, imports saw a buoyant expansion. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2022, and then declined sharply in the following year.

Imports by Country

Ghana (X units) and Nigeria (X units) represented roughly X% of total imports in 2023. Benin (X units) held the next position in the ranking, followed by Cote d'Ivoire (X units). All these countries together held near X% share of total imports. Senegal (X units), Mali (X units) and Guinea (X units) held a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Benin (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest agricultural harvester importing markets in Western Africa were Nigeria ($X), Ghana ($X) and Cote d'Ivoire ($X), together comprising X% of total imports. Senegal, Benin, Guinea and Mali lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Benin, 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 Western Africa amounted to $X per unit, falling by X% against the previous year. In general, the import price recorded a abrupt downturn. The pace of growth appeared the most rapid in 2014 an increase of X%. The level of import peaked at $X per unit in 2017; however, from 2018 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform