ECOWAS: Woven Carpet Market 2025

Woven Carpet Market Size in ECOWAS

The ECOWAS woven carpet market contracted to $X in 2022, reducing by -7.2% against the previous year. In general, consumption showed a noticeable downturn. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Woven Carpet Production in ECOWAS

In value terms, woven carpet production dropped to $X in 2022 estimated in export price. Overall, production saw a abrupt slump. The most prominent rate of growth was recorded in 2019 with an increase of 33%. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Woven Carpet Exports

Exports in ECOWAS

Woven carpet exports contracted notably to X square meters in 2022, falling by -36% on 2021 figures. In general, exports, however, continue to indicate strong growth. The most prominent rate of growth was recorded in 2019 when exports increased by 180% against the previous year. Over the period under review, the exports attained the maximum at X square meters in 2021, and then reduced markedly in the following year.

In value terms, woven carpet exports shrank remarkably to $X in 2022. Overall, exports, however, recorded prominent growth. The pace of growth was the most pronounced in 2021 with an increase of 80% against the previous year. As a result, the exports attained the peak of $X, and then dropped markedly in the following year.

Exports by Country

Togo dominates exports structure, resulting at X square meters, which was approx. 80% of total exports in 2022. It was distantly followed by Ghana (X square meters), comprising a 6% share of total exports. Nigeria (X square meters), Senegal (X square meters) and Cote d'Ivoire (X square meters) held a minor share of total exports.

Togo was also the fastest-growing in terms of the woven carpets and other woven textile coverings exports, with a CAGR of +55.2% from 2012 to 2022. At the same time, Nigeria (+6.6%) and Cote d'Ivoire (+4.7%) displayed positive paces of growth. By contrast, Senegal (-3.8%) and Ghana (-4.4%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo increased by +77 percentage points.

In value terms, Togo ($X) remains the largest woven carpet supplier in ECOWAS, comprising 68% of total exports. The second position in the ranking was held by Ghana ($X), with an 11% share of total exports. It was followed by Senegal, with an 8.3% share.

In Togo, woven carpet exports expanded at an average annual rate of +53.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (-5.7% per year) and Senegal (+4.8% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per square meter, increasing by 3.6% against the previous year. Overall, the export price, however, showed a abrupt decrease. The pace of growth appeared the most rapid in 2020 when the export price increased by 84% against the previous year. Over the period under review, the export prices hit record highs at $X per square meter in 2012; however, from 2013 to 2022, the export prices stood at a somewhat 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 Senegal ($X per square meter), while Togo ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+8.9%), while the other leaders experienced mixed trends in the export price figures.

Woven Carpet Imports

Imports in ECOWAS

After four years of growth, overseas purchases of woven carpets and other woven textile coverings decreased by -9.4% to X square meters in 2022. Overall, imports, however, recorded a prominent increase. The pace of growth was the most pronounced in 2013 with an increase of 77%. Over the period under review, imports reached the peak figure at X square meters in 2021, and then reduced in the following year.

In value terms, woven carpet imports declined to $X in 2022. Total imports indicated a tangible expansion from 2012 to 2022: its value increased at an average annual rate of +2.2% 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 +51.9% against 2018 indices. The pace of growth was the most pronounced in 2013 with an increase of 37% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Mali (X square meters), Guinea (X square meters), Cote d'Ivoire (X square meters) and Ghana (X square meters) represented roughly 78% of total imports in 2022. It was distantly followed by Nigeria (X square meters), generating a 6.1% share of total imports. The following importers - Gambia (X square meters) and Senegal (X square meters) - each amounted to an 8.1% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guinea (with a CAGR of +37.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest woven carpet importing markets in ECOWAS were Ghana ($X), Cote d'Ivoire ($X) and Guinea ($X), together comprising 52% of total imports.

Guinea, with a CAGR of +23.8%, saw the highest rates of growth with regard to the value of imports, in terms of 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

In 2022, the import price in ECOWAS amounted to $X per square meter, remaining stable against the previous year. Overall, the import price showed a pronounced reduction. The pace of growth was the most pronounced in 2015 when the import price increased by 4.2%. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per square meter), while Mali ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (-0.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform