ECOWAS: Brassiere Market 2024

Brassiere Market Size in ECOWAS

In 2021, the ECOWAS brassiere market increased by 3% to $X for the first time since 2018, thus ending a two-year declining trend. The total consumption indicated slight growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market remained at a somewhat lower figure.

Brassiere Production in ECOWAS

In value terms, brassiere production amounted to $X in 2021 estimated in export price. The total production indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.5% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -14.8% against 2016 indices. The pace of growth was the most pronounced in 2016 when the production volume increased by 54% against the previous year. As a result, production reached the peak level of $X. From 2017 to 2021, production growth remained at a lower figure.

Brassiere Exports

Exports in ECOWAS

In 2021, overseas shipments of brassieres of textile materials, whether or not elasticated decreased by -62.8% to X units for the first time since 2018, thus ending a two-year rising trend. In general, exports, however, posted measured growth. The pace of growth appeared the most rapid in 2014 with an increase of 202% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2016; however, from 2017 to 2021, the exports failed to regain momentum.

In value terms, brassiere exports fell remarkably to $X in 2021. Overall, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2016 with an increase of 131% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Sierra Leone prevails in exports structure, finishing at X units, which was near 90% of total exports in 2021. The following exporters - Nigeria (X units), Mali (X units) and Cabo Verde (X units) - together made up 7.6% of total exports.

Exports from Sierra Leone increased at an average annual rate of +17.7% from 2012 to 2021. At the same time, Cabo Verde (+20.9%) and Nigeria (+15.7%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +20.9% from 2012-2021. By contrast, Mali (-21.1%) illustrated a downward trend over the same period. Sierra Leone (+65 p.p.), Nigeria (+1.9 p.p.) and Cabo Verde (+1.8 p.p.) significantly strengthened its position in terms of the total exports, while Mali saw its share reduced by -23% from 2012 to 2021, respectively.

In value terms, Sierra Leone ($X) remains the largest brassiere supplier in ECOWAS, comprising 92% of total exports. The second position in the ranking was taken by Cabo Verde ($X), with a 2.3% share of total exports. It was followed by Nigeria, with a 1.9% share.

In Sierra Leone, brassiere exports increased at an average annual rate of +23.8% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Cabo Verde (+19.5% per year) and Nigeria (+20.4% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2021, jumping by 39% against the previous year. Over the period under review, the export price continues to indicate a noticeable increase. The pace of growth was the most pronounced in 2015 when the export price increased by 66% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2021, 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 Sierra Leone ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Sierra Leone (+5.2%), while the other leaders experienced mixed trends in the export price figures.

Brassiere Imports

Imports in ECOWAS

In 2021, the amount of brassieres of textile materials, whether or not elasticated imported in ECOWAS surged to X units, growing by 60% compared with 2020 figures. In general, imports, however, saw a deep contraction. The most prominent rate of growth was recorded in 2020 with an increase of 154% against the previous year. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, brassiere imports soared to $X in 2021. Over the period under review, imports posted a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 115%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

In 2021, Ghana (X units) and Togo (X units) were the main importers of brassieres of textile materials, whether or not elasticated in ECOWAS, together recording approx. 70% of total imports. Cote d'Ivoire (X units) took the next position in the ranking, distantly followed by Senegal (X units). All these countries together took near 20% share of total imports. Guinea (X units), Liberia (X units) and Cabo Verde (X units) took a little share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Cote d'Ivoire (with a CAGR of +54.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Ghana ($X) and Cote d'Ivoire ($X) were the countries with the highest levels of imports in 2021, together accounting for 88% of total imports.

Among the main importing countries, Cote d'Ivoire, with a CAGR of +49.8%, 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 2021, the import price in ECOWAS amounted to $X per unit, increasing by 9.3% against the previous year. Over the period under review, the import price saw a significant increase. The pace of growth appeared the most rapid in 2013 when the import price increased by 74%. The level of import peaked at $X per unit in 2019; however, from 2020 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, amid the top importers, the country with the highest price was Guinea ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (-1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform