ECOWAS: Market for Jute And Jute-Like Fibers 2025

Market Size for Jute And Jute-Like Fibers in ECOWAS

In 2022, the ECOWAS jute and jute-like fibers market decreased by -3.2% to $X, falling for the second consecutive year after two years of growth. Over the period under review, consumption recorded a abrupt setback. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Jute And Jute-Like Fibers in ECOWAS

In value terms, jute and jute-like fibers production expanded to $X in 2022 estimated in export price. The total production indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -3.9% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of 73% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth remained at a somewhat lower figure.

Liberia (X tons) constituted the country with the largest volume of jute and jute-like fibers production, comprising approx. 97% of total volume. Moreover, jute and jute-like fibers production in Liberia exceeded the figures recorded by the second-largest producer, Sierra Leone (X tons), more than tenfold.

In Liberia, jute and jute-like fibers production expanded at an average annual rate of +2.0% over the period from 2012-2022.

Exports of Jute And Jute-Like Fibers

Exports in ECOWAS

In 2022, the amount of jute and jute-like fibers exported in ECOWAS expanded notably to X tons, surging by 6.7% against the previous year. In general, exports, however, saw a noticeable setback. The pace of growth was the most pronounced in 2018 with an increase of 2,026% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jute and jute-like fibers exports expanded rapidly to $X in 2022. Over the period under review, exports, however, showed a abrupt downturn. The pace of growth was the most pronounced in 2018 when exports increased by 386% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

Exports by Country

Togo was the largest exporting country with an export of around X tons, which accounted for 63% of total exports. It was distantly followed by Gambia (X tons) and Mali (X tons), together comprising a 33% share of total exports. The following exporters - Nigeria (X kg) and Senegal (X kg) - each resulted at a 3.7% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to jute and jute-like fibers exports from Togo stood at +31.4%. At the same time, Gambia (+83.5%), Nigeria (+38.7%) and Senegal (+18.2%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +83.5% from 2012-2022. By contrast, Mali (-10.4%) illustrated a downward trend over the same period. Togo (+60 p.p.), Gambia (+26 p.p.), Nigeria (+1.9 p.p.) and Senegal (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while Mali saw its share reduced by -10.1% from 2012 to 2022, respectively.

In value terms, Togo ($X) remains the largest jute and jute-like fibers supplier in ECOWAS, comprising 57% of total exports. The second position in the ranking was taken by Mali ($X), with a 21% share of total exports. It was followed by Gambia, with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo totaled +18.3%. In the other countries, the average annual rates were as follows: Mali (-10.2% per year) and Gambia (+57.6% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, increasing by 6.7% against the previous year. Overall, the export price, however, continues to indicate a pronounced shrinkage. The growth pace was the most rapid in 2017 an increase of 111%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+0.2%), while the other leaders experienced a decline in the export price figures.

Imports of Jute And Jute-Like Fibers

Imports in ECOWAS

In 2022, supplies from abroad of jute and jute-like fibers decreased by -5.9% to X tons, falling for the second year in a row after two years of growth. Overall, imports showed a deep slump. The growth pace was the most rapid in 2020 when imports increased by 79%. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports reduced modestly to $X in 2022. In general, imports showed a abrupt decrease. The growth pace was the most rapid in 2020 with an increase of 73% against the previous year. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Cote d'Ivoire represented the main importer of jute and jute-like fibers in ECOWAS, with the volume of imports reaching X tons, which was near 54% of total imports in 2022. Nigeria (X tons) took the second position in the ranking, distantly followed by Ghana (X tons) and Senegal (X tons). All these countries together took near 38% share of total imports. Togo (X tons) and Niger (X tons) took a minor share of total imports.

Imports into Cote d'Ivoire decreased at an average annual rate of -12.7% from 2012 to 2022. At the same time, Niger (+43.2%), Senegal (+12.1%) and Togo (+10.8%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +43.2% from 2012-2022. Nigeria experienced a relatively flat trend pattern. By contrast, Ghana (-4.6%) illustrated a downward trend over the same period. Nigeria (+15 p.p.), Senegal (+5.5 p.p.), Togo (+2.8 p.p.), Ghana (+2.6 p.p.) and Niger (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by -29.9% from 2012 to 2022, respectively.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, with a combined 89% share of total imports. Togo, Senegal and Niger lagged somewhat behind, together comprising a further 7.4%.

In terms of the main importing countries, Niger, with a CAGR of +20.4%, recorded the highest growth rate of 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 2022, the import price in ECOWAS amounted to $X per ton, growing by 4% against the previous year. Over the last decade, it increased at an average annual rate of +1.9%. The pace of growth was the most pronounced in 2015 when the import price increased by 27%. Over the period under review, import prices reached the peak figure at $X per ton in 2016; however, from 2017 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 Nigeria ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform