ECOWAS: Plaits And Basketwork Market 2024

Plaits And Basketwork Market Size in ECOWAS

The ECOWAS plaits and basketwork market rose slightly to $X in 2022, increasing by 3.5% against the previous year. In general, consumption, however, saw a prominent increase. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Plaits And Basketwork Production in ECOWAS

In value terms, plaits and basketwork production rose markedly to $X in 2022 estimated in export price. Over the period under review, production posted a resilient increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 49% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2022, production growth failed to regain momentum.

Plaits And Basketwork Exports

Exports in ECOWAS

In 2022, shipments abroad of plaits, basketwork, wickerwork and similar products of plaiting materials was finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports continue to indicate a relatively flat trend pattern. Over the period under review, the exports reached the peak figure at X tons in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

In value terms, plaits and basketwork exports rose notably to $X in 2022. Overall, exports saw a relatively flat trend pattern. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, Togo (X tons) represented the largest exporter of plaits, basketwork, wickerwork and similar products of plaiting materials, achieving 68% of total exports. It was distantly followed by Cote d'Ivoire (X tons), Senegal (X tons) and Ghana (X tons), together comprising a 28% share of total exports. Mali (X tons) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to plaits and basketwork exports from Togo stood at +4.1%. At the same time, Ghana (+7.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +7.0% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Mali (-2.3%) and Cote d'Ivoire (-6.7%) illustrated a downward trend over the same period. While the share of Togo (+19 p.p.) and Ghana (+2.5 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (-18.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest plaits and basketwork supplier in ECOWAS, comprising 54% of total exports. The second position in the ranking was held by Ghana ($X), with a 21% share of total exports. It was followed by Cote d'Ivoire, with a 12% share.

In Togo, plaits and basketwork exports increased at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (+11.3% per year) and Cote d'Ivoire (-8.6% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, shrinking by -11.4% against the previous year. Overall, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the export price increased by 13%. As a result, the export price attained the peak level of $X per ton, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+4.0%), while the other leaders experienced more modest paces of growth.

Plaits And Basketwork Imports

Imports in ECOWAS

In 2022, purchases abroad of plaits, basketwork, wickerwork and similar products of plaiting materials decreased by -9.3% to X tons, falling for the second consecutive year after two years of growth. Total imports indicated a prominent increase from 2012 to 2022: its volume increased at an average annual rate of +5.9% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -13.8% against 2020 indices. The growth pace was the most rapid in 2015 when imports increased by 26% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, plaits and basketwork imports declined modestly to $X in 2022. Total imports indicated a buoyant expansion from 2012 to 2022: its value increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +3.8% against 2018 indices. The most prominent rate of growth was recorded in 2013 when imports increased by 34% against the previous year. Over the period under review, imports attained the peak figure at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

Mali was the major importing country with an import of about X tons, which recorded 41% of total imports. Burkina Faso (X tons) took the second position in the ranking, distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Niger (X tons). All these countries together took approx. 52% share of total imports. Gambia (X tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of +39.4%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) constitutes the largest market for imported plaits, basketwork, wickerwork and similar products of plaiting materials in ECOWAS, comprising 49% of total imports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with an 11% share.

From 2012 to 2022, the average annual growth rate of value in Mali stood at +37.0%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (+11.3% per year) and Cote d'Ivoire (+13.8% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, picking up by 6.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 an increase of 12%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Niger (+1.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform