Ghana: Market for Cotton (Carded Or Combed) 2024

Market Size for Cotton (Carded Or Combed) in Ghana

The Ghanian cotton (carded or combed) market reached $X in 2022, approximately mirroring the previous year. The market value increased at an average annual rate of +3.4% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Cotton (carded or combed) consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Production of Cotton (Carded Or Combed) in Ghana

In value terms, cotton (carded or combed) production reached $X in 2022 estimated in export price. Over the period under review, the total production indicated a pronounced increase 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, production decreased by -1.7% against 2020 indices. The most prominent rate of growth was recorded in 2019 when the production volume increased by 16% against the previous year. Cotton (carded or combed) production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Cotton (Carded Or Combed)

Exports from Ghana

In 2022, after two years of growth, there was decline in overseas shipments of cotton (carded or combed), when their volume decreased by -0.7% to X kg. In general, exports showed a precipitous curtailment. The pace of growth was the most pronounced in 2020 when exports increased by 1.4% against the previous year. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, cotton (carded or combed) exports reduced to $X in 2022. Overall, exports saw a significant contraction. The most prominent rate of growth was recorded in 2021 when exports increased by 14% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Niger (X kg), Burkina Faso (X kg) and Cote d'Ivoire (X kg) were the main destinations of cotton (carded or combed) exports from Ghana.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Niger (with a CAGR of +13.3%), while the other leaders experienced mixed trend patterns.

In value terms, the largest markets for cotton (carded or combed) exported from Ghana were Burkina Faso ($X), Niger ($X) and Cote d'Ivoire ($X).

Niger, with a CAGR of +13.8%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average cotton (carded or combed) export price amounted to $X per ton, shrinking by -5.5% against the previous year. In general, the export price, however, recorded a slight expansion. The most prominent rate of growth was recorded in 2019 an increase of 33% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then contracted in the following year.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Burkina Faso ($X per ton), while the average price for exports to Niger ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Burkina Faso (+14.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Cotton (Carded Or Combed)

Imports into Ghana

In 2022, after five years of growth, there was significant decline in overseas purchases of cotton (carded or combed), when their volume decreased by -21.1% to X tons. Overall, imports recorded a abrupt downturn. The pace of growth was the most pronounced in 2020 with an increase of 271% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, cotton (carded or combed) imports declined rapidly to $X in 2022. In general, imports recorded a sharp descent. The most prominent rate of growth was recorded in 2020 with an increase of 219% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, Italy (X tons) constituted the largest cotton (carded or combed) supplier to Ghana, with a 88% share of total imports. Moreover, cotton (carded or combed) imports from Italy exceeded the figures recorded by the second-largest supplier, China (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume from Italy amounted to +105.6%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-19.4% per year) and Nigeria (+60.4% per year).

In value terms, Italy ($X) constituted the largest supplier of cotton (carded or combed) to Ghana, comprising 75% of total imports. The second position in the ranking was held by China ($X), with a 9.7% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from Italy stood at +85.1%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-34.2% per year) and Nigeria (+47.9% per year).

Import Prices by Country

In 2022, the average cotton (carded or combed) import price amounted to $X per ton, remaining constant against the previous year. In general, the import price, however, recorded a deep slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 93%. As a result, import price reached the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per ton), while the price for Italy ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (-7.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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