Ghana: Market for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles 2024

Market Size for Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Ghana

After two years of growth, the Ghanian knitted shawl and scarf market decreased by -2.9% to $X in 2022. Overall, the total consumption indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +8.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +42.9% against 2017 indices. Knitted shawl and scarf consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles in Ghana

In value terms, knitted shawl and scarf production expanded to $X in 2022 estimated in export price. Over the period under review, the total production indicated a prominent expansion from 2012 to 2022: its value increased at an average annual rate of +7.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +19.7% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the production volume increased by 62%. Knitted shawl and scarf production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Exports from Ghana

In 2022, the amount of shawls, scarves and the like of knitted or crocheted textiles exported from Ghana shrank to X units, declining by -13.2% against 2021 figures. Overall, exports showed a sharp decrease. The most prominent rate of growth was recorded in 2017 with an increase of 482%. Over the period under review, the exports hit record highs at X units in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, knitted shawl and scarf exports shrank rapidly to $X in 2022. Over the period under review, exports showed a abrupt slump. The growth pace was the most rapid in 2017 with an increase of 205%. Over the period under review, the exports attained the peak figure at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X units) was the main destination for knitted shawl and scarf exports from Ghana, accounting for a 58% share of total exports. Moreover, knitted shawl and scarf exports to Nigeria exceeded the volume sent to the second major destination, France (X units), twofold. Burkina Faso (X units) ranked third in terms of total exports with a 4.8% share.

From 2012 to 2022, the average annual growth rate of volume to Nigeria totaled -22.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+16.5% per year) and Burkina Faso (-25.0% per year).

In value terms, Nigeria ($X) remains the key foreign market for shawls, scarves and the like of knitted or crocheted textiles exports from Ghana, comprising 57% of total exports. The second position in the ranking was taken by France ($X), with a 28% share of total exports. It was followed by Burkina Faso, with a 6% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Nigeria amounted to -9.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: France (+36.5% per year) and Burkina Faso (-15.4% per year).

Export Prices by Country

In 2022, the average knitted shawl and scarf export price amounted to $X per unit, dropping by -4.5% against the previous year. Overall, the export price, however, continues to indicate a resilient increase. The most prominent rate of growth was recorded in 2018 an increase of 76%. Over the period under review, the average export prices hit record highs at $X per unit in 2021, and then declined slightly in the following year.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per unit), while the average price for exports to Denmark ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Cote d'Ivoire (+40.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Shawls, Scarves And The Like Of Knitted Or Crocheted Textiles

Imports into Ghana

In 2022, after two years of growth, there was significant decline in supplies from abroad of shawls, scarves and the like of knitted or crocheted textiles, when their volume decreased by -21% to X units. Overall, imports, however, enjoyed a significant increase. The pace of growth appeared the most rapid in 2014 when imports increased by 2,052%. Imports peaked at X units in 2021, and then declined notably in the following year.

In value terms, knitted shawl and scarf imports shrank to $X in 2022. In general, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2014 when imports increased by 1,611% against the previous year. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, China (X units) was the main knitted shawl and scarf supplier to Ghana, accounting for a 97% share of total imports. It was followed by the UK (X units), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +78.1%.

In value terms, China ($X) constituted the largest supplier of shawls, scarves and the like of knitted or crocheted textiles to Ghana, comprising 94% of total imports. The second position in the ranking was held by the UK ($X), with a 2% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +62.8%.

Import Prices by Country

The average knitted shawl and scarf import price stood at $X per unit in 2022, surging by 20% against the previous year. In general, the import price, however, showed a abrupt decline. The pace of growth was the most pronounced in 2016 when the average import price increased by 72% against the previous year. As a result, import price reached the peak level of $X per unit. From 2017 to 2022, the average import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the UK ($X per unit), while the price for China totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+5.2%).

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :