ECOWAS: Cotton Bag Market 2025

Cotton Bag Market Size in ECOWAS

The ECOWAS cotton bag market fell to $X in 2021, with a decrease of -4.3% against the previous year. Overall, consumption, however, showed a buoyant expansion. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a somewhat lower figure.

Cotton Bag Production in ECOWAS

In value terms, cotton bag production reached $X in 2021 estimated in export price. Over the period under review, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2018 with an increase of 70% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth remained at a somewhat lower figure.

Cotton Bag Exports

Exports in ECOWAS

In 2021, exports of sacks and bags of cotton in ECOWAS amounted to X tons, with an increase of 11% compared with the previous year. In general, exports, however, showed a abrupt slump. The pace of growth appeared the most rapid in 2015 with an increase of 496% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

In value terms, cotton bag exports expanded remarkably to $X in 2021. Overall, exports, however, faced a drastic downturn. The growth pace was the most rapid in 2015 with an increase of 315%. Over the period under review, the exports attained the maximum at $X in 2016; however, from 2017 to 2021, the exports remained at a lower figure.

Exports by Country

Mali (X tons) and Ghana (X tons) represented the key exporters of sacks and bags of cotton in 2021, reaching near 33% and 31% of total exports, respectively. Niger (X kg) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Nigeria (11%) and Benin (4.6%). Cote d'Ivoire (X kg) followed a long way behind the leaders.

From 2012 to 2021, the biggest increases were recorded for Mali (with a CAGR of +68.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mali ($X) remains the largest cotton bag supplier in ECOWAS, comprising 56% of total exports. The second position in the ranking was taken by Ghana ($X), with a 21% share of total exports. It was followed by Benin, with a 6.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Mali stood at +49.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (+1.7% per year) and Benin (+3.0% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2021, falling by -4.8% against the previous year. Overall, the export price showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 49%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Mali ($X per ton), while Niger ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Benin (+13.2%), while the other leaders experienced mixed trends in the export price figures.

Cotton Bag Imports

Imports in ECOWAS

In 2021, imports of sacks and bags of cotton in ECOWAS dropped to X tons, declining by -10% on the year before. In general, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2016 with an increase of 83% against the previous year. As a result, imports attained the peak of X tons. From 2017 to 2021, the growth of imports failed to regain momentum.

In value terms, cotton bag imports skyrocketed to $X in 2021. Overall, imports, however, showed a relatively flat trend pattern. Over the period under review, imports attained the peak figure at $X in 2016; however, from 2017 to 2021, imports remained at a lower figure.

Imports by Country

Gambia represented the key importing country with an import of about X tons, which resulted at 52% of total imports. Nigeria (X tons) held the second position in the ranking, distantly followed by Ghana (X tons), Cote d'Ivoire (X tons) and Senegal (X tons). All these countries together held approx. 37% share of total imports. The following importers - Benin (X tons) and Sierra Leone (X tons) - together made up 6.7% of total imports.

Gambia was also the fastest-growing in terms of the sacks and bags of cotton imports, with a CAGR of +31.6% from 2012 to 2021. At the same time, Nigeria (+29.8%), Cote d'Ivoire (+24.6%) and Ghana (+3.0%) displayed positive paces of growth. By contrast, Benin (-13.4%), Sierra Leone (-14.8%) and Senegal (-23.4%) illustrated a downward trend over the same period. Gambia (+48 p.p.), Nigeria (+16 p.p.), Cote d'Ivoire (+6.1 p.p.) and Ghana (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while Sierra Leone, Benin and Senegal saw its share reduced by -9.6%, -10.1% and -45.5% from 2012 to 2021, respectively.

In value terms, Gambia ($X) constitutes the largest market for imported sacks and bags of cotton in ECOWAS, comprising 57% of total imports. The second position in the ranking was taken by Ghana ($X), with a 15% share of total imports. It was followed by Cote d'Ivoire, with a 4.7% share.

In Gambia, cotton bag imports increased at an average annual rate of +37.8% over the period from 2012-2021. In the other countries, the average annual rates were as follows: Ghana (+11.8% per year) and Cote d'Ivoire (+10.9% per year).

Import Prices by Country

In 2021, the import price in ECOWAS amounted to $X per ton, growing by 83% against the previous year. In general, the import price, however, saw a relatively flat trend pattern. Over the period under review, import prices hit record highs at $X per ton in 2012; afterwards, it flattened through to 2021.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+8.5%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform