ECOWAS: Men Swimwear Market 2024

Men Swimwear Market Size in ECOWAS

The ECOWAS men swimwear market reached $X in 2021, surging by 6.3% against the previous year. In general, consumption posted buoyant growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Men Swimwear Production in ECOWAS

In value terms, men swimwear production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production enjoyed strong growth. The pace of growth appeared the most rapid in 2017 with an increase of 69%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Men Swimwear Exports

Exports in ECOWAS

In 2021, shipments abroad of men’s swimwear (excluding of knitted or crocheted textiles) was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports recorded a moderate expansion. The most prominent rate of growth was recorded in 2014 with an increase of 178%. Over the period under review, the exports attained the peak figure at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, men swimwear exports rose sharply to $X in 2021. In general, exports saw prominent growth. The most prominent rate of growth was recorded in 2014 with an increase of 151%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

Exports by Country

Senegal (X units), Cote d'Ivoire (X units) and Togo (X units) represented roughly 80% of total exports in 2021. It was distantly followed by Nigeria (X units), Niger (X units) and Sierra Leone (X units), together committing a 17% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Senegal (with a CAGR of +60.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Senegal ($X) remains the largest men swimwear supplier in ECOWAS, comprising 48% of total exports. The second position in the ranking was held by Togo ($X), with a 17% share of total exports. It was followed by Cote d'Ivoire, with a 14% share.

In Senegal, men swimwear exports expanded at an average annual rate of +72.5% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Togo (+4.6% per year) and Cote d'Ivoire (+4.9% per year).

Export Prices by Country

In 2021, the export price in ECOWAS amounted to $X per unit, waning by -14.3% against the previous year. Overall, the export price, however, saw a buoyant increase. The pace of growth appeared the most rapid in 2013 when the export price increased by 74%. The level of export peaked at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+10.4%), while the other leaders experienced more modest paces of growth.

Men Swimwear Imports

Imports in ECOWAS

In 2021, purchases abroad of men’s swimwear (excluding of knitted or crocheted textiles) decreased by -16.3% to X units, falling for the seventh year in a row after three years of growth. Overall, imports continue to indicate a abrupt curtailment. The growth pace was the most rapid in 2014 when imports increased by 73%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, men swimwear imports fell remarkably to $X in 2021. Over the period under review, imports showed a deep reduction. The growth pace was the most rapid in 2014 when imports increased by 73% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Nigeria (X units) represented the major importer of men’s swimwear (excluding of knitted or crocheted textiles), creating 56% of total imports. Mali (X units) took an 11% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (8%), Ghana (6.1%) and Burkina Faso (5.9%). Cote d'Ivoire (X units) and Sierra Leone (X units) took a relatively small share of total imports.

Imports into Nigeria decreased at an average annual rate of -3.2% from 2012 to 2021. At the same time, Mali (+32.1%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of +32.1% from 2012-2021. Sierra Leone and Burkina Faso experienced a relatively flat trend pattern. By contrast, Ghana (-1.3%), Cote d'Ivoire (-8.8%) and Senegal (-16.4%) illustrated a downward trend over the same period. While the share of Nigeria (+16 p.p.), Mali (+10 p.p.), Burkina Faso (+2.6 p.p.), Ghana (+2.5 p.p.) and Sierra Leone (+2.4 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Senegal (-13.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported men’s swimwear (excluding of knitted or crocheted textiles) in ECOWAS, comprising 56% of total imports. The second position in the ranking was taken by Senegal ($X), with a 9.1% share of total imports. It was followed by Mali, with a 7.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Nigeria amounted to -9.5%. In the other countries, the average annual rates were as follows: Senegal (-12.7% per year) and Mali (+28.3% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per unit, shrinking by -8.3% against the previous year. Over the period under review, the import price recorded a perceptible decrease. The pace of growth appeared the most rapid in 2013 when the import price increased by 14% against the previous year. As a result, import price attained the peak level of $X per unit. From 2014 to 2021, the import prices failed to regain momentum.

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 Cote d'Ivoire ($X per unit), while Mali ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+5.4%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform