ECOWAS: Market for Footwear with Uppers of Textile Materials 2024

Market Size for Footwear with Uppers of Textile Materials in ECOWAS

The ECOWAS market for footwear with uppers of textile materials rose significantly to $X in 2022, with an increase of 6.2% against the previous year. In general, consumption enjoyed a notable increase. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Production of Footwear with Uppers of Textile Materials in ECOWAS

In value terms, production of footwear with uppers of textile materials rose significantly to $X in 2022 estimated in export price. Overall, production showed a moderate expansion. The most prominent rate of growth was recorded in 2016 with an increase of 47%. Over the period under review, production of reached the peak level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Footwear with Uppers of Textile Materials

Exports in ECOWAS

In 2022, shipments abroad of footwear with uppers of textile materials increased by 2.4% to X pairs for the first time since 2019, thus ending a two-year declining trend. In general, exports, however, faced a sharp decline. The growth pace was the most rapid in 2018 with an increase of 64% against the previous year. Over the period under review, the exports of hit record highs at X pairs in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, exports of footwear with uppers of textile materials stood at $X in 2022. Overall, exports, however, faced a precipitous curtailment. The growth pace was the most rapid in 2018 when exports increased by 62% against the previous year. Over the period under review, the exports of hit record highs at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Nigeria represented the key exporter of footwear with uppers of textile materials in ECOWAS, with the volume of exports resulting at X pairs, which was approx. 54% of total exports in 2022. Ghana (X pairs) held the second position in the ranking, distantly followed by Togo (X pairs) and Cote d'Ivoire (X pairs). All these countries together took approx. 41% share of total exports. Niger (X pairs) followed a long way behind the leaders.

Nigeria was also the fastest-growing in terms of the footwear with uppers of textile materials exports, with a CAGR of +24.4% from 2012 to 2022. At the same time, Togo (+23.6%), Niger (+22.3%) and Ghana (+2.0%) displayed positive paces of growth. By contrast, Cote d'Ivoire (-40.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Nigeria, Ghana, Togo and Niger increased by +53, +22, +9.6 and +1.6 percentage points, respectively.

In value terms, Nigeria ($X) remains the largest footwear with uppers of textile materials supplier in ECOWAS, comprising 49% of total exports. The second position in the ranking was held by Ghana ($X), with a 22% share of total exports. It was followed by Togo, with a 17% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled +27.1%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+7.1% per year) and Togo (+34.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per pair, surging by 8.4% against the previous year. Export price indicated noticeable growth from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for footwear with uppers of textile materials increased by +66.8% against 2018 indices. The most prominent rate of growth was recorded in 2021 when the export price increased by 26% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per pair), while Cote d'Ivoire ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+8.5%), while the other leaders experienced more modest paces of growth.

Imports of Footwear with Uppers of Textile Materials

Imports in ECOWAS

In 2022, purchases abroad of footwear with uppers of textile materials decreased by -17.9% to X pairs for the first time since 2018, thus ending a three-year rising trend. In general, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 with an increase of 102% against the previous year. As a result, imports reached the peak of X pairs. From 2015 to 2022, the growth of imports of remained at a lower figure.

In value terms, imports of footwear with uppers of textile materials shrank to $X in 2022. Overall, imports, however, showed notable growth. The growth pace was the most rapid in 2014 with an increase of 169%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Guinea (X pairs) and Cote d'Ivoire (X pairs) represented the major importers of footwear with uppers of textile materials in 2022, finishing at near 19% and 18% of total imports, respectively. It was distantly followed by Ghana (X pairs), Senegal (X pairs), Sierra Leone (X pairs), Liberia (X pairs), Nigeria (X pairs) and Gambia (X pairs), together making up a 54% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Gambia (with a CAGR of +51.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Guinea ($X), Cote d'Ivoire ($X) and Sierra Leone ($X) were the countries with the highest levels of imports in 2022, together accounting for 52% of total imports. Liberia, Nigeria, Ghana, Senegal and Gambia lagged somewhat behind, together accounting for a further 39%.

Gambia, with a CAGR of +35.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per pair in 2022, increasing by 10% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of +4.0%. The pace of growth appeared the most rapid in 2014 an increase of 33% against the previous year. The level of import peaked at $X per pair in 2019; however, from 2020 to 2022, import prices remained at a 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 Sierra Leone ($X per pair), while Senegal ($X per pair) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (+9.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform