Western Africa: Cotton Sewing Thread Market 2024

Cotton Sewing Thread Market Size in Western Africa

The West African cotton sewing thread market fell significantly to $X in 2021, dropping by -25.9% against the previous year. The total consumption indicated a measured expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -34.5% against 2019 indices. As a result, consumption reached the peak level of $X. From 2020 to 2021, the growth of the market remained at a lower figure.

Cotton Sewing Thread Production in Western Africa

In value terms, cotton sewing thread production skyrocketed to $X in 2021 estimated in export price. Over the period under review, production enjoyed tangible growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by 112%. As a result, production attained the peak level of $X. From 2016 to 2021, production growth failed to regain momentum.

Cotton Sewing Thread Exports

Exports in Western Africa

Cotton sewing thread exports skyrocketed to X tons in 2021, jumping by 213% compared with 2020. Overall, exports posted a perceptible increase. The pace of growth was the most pronounced in 2015 with an increase of 2,837% against the previous year. As a result, the exports attained the peak of X tons. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, cotton sewing thread exports skyrocketed to $X in 2021. In general, exports, however, showed a abrupt setback. The most prominent rate of growth was recorded in 2015 when exports increased by 1,087% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mali prevails in exports structure, amounting to X tons, which was approx. 92% of total exports in 2021. Ghana (X tons) followed a long way behind the leaders.

Mali was also the fastest-growing in terms of the cotton sewing thread exports, with a CAGR of +26.4% from 2012 to 2021. Ghana (-24.0%) illustrated a downward trend over the same period. Mali (+77 p.p.) significantly strengthened its position in terms of the total exports, while Ghana saw its share reduced by -61.1% from 2012 to 2021, respectively.

In value terms, Mali ($X) remains the largest cotton sewing thread supplier in Western Africa, comprising 62% of total exports. The second position in the ranking was taken by Ghana ($X), with an 11% share of total exports.

In Mali, cotton sewing thread exports decreased by an average annual rate of -2.1% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, with a decrease of -35.3% against the previous year. In general, the export price recorded a abrupt shrinkage. The growth pace was the most rapid in 2016 an increase of 229% against the previous year. The level of export peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Mali totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+6.1%).

Cotton Sewing Thread Imports

Imports in Western Africa

In 2021, purchases abroad of cotton sewing thread decreased by -36.3% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of 116%. As a result, imports reached the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, cotton sewing thread imports contracted sharply to $X in 2021. Total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2019 with an increase of 72%. Over the period under review, imports reached the maximum at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria was the main importing country with an import of about X tons, which amounted to 63% of total imports. Burkina Faso (X tons) took the second position in the ranking, distantly followed by Gambia (X tons). All these countries together held approx. 24% share of total imports. The following importers - Ghana (X tons) and Senegal (X tons) - together made up 7.1% of total imports.

Imports into Nigeria increased at an average annual rate of +14.4% from 2012 to 2021. At the same time, Gambia (+22.3%), Burkina Faso (+15.5%) and Ghana (+3.1%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +22.3% from 2012-2021. By contrast, Senegal (-17.9%) illustrated a downward trend over the same period. Nigeria (+30 p.p.), Burkina Faso (+9.9 p.p.) and Gambia (+3.6 p.p.) significantly strengthened its position in terms of the total imports, while Senegal saw its share reduced by -28.5% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported cotton sewing thread in Western Africa, comprising 53% of total imports. The second position in the ranking was held by Gambia ($X), with an 11% share of total imports. It was followed by Ghana, with a 9.2% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria totaled +10.6%. In the other countries, the average annual rates were as follows: Gambia (+27.1% per year) and Ghana (+1.6% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, rising by 25% against the previous year. Over the period under review, the import price, however, showed a perceptible reduction. The most prominent rate of growth was recorded in 2015 an increase of 43% against the previous year. As a result, import price attained the peak level of $X per ton. From 2016 to 2021, the import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Gambia (+3.9%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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