Western Africa: Greasy Wool Market 2025

Greasy Wool Market Size in Western Africa

In 2022, the West African greasy wool market increased by 2.4% to $X, rising for the second year in a row after four years of decline. Over the period under review, consumption, however, recorded a perceptible slump. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Greasy Wool Production in Western Africa

In value terms, greasy wool production fell to $X in 2022 estimated in export price. In general, production, however, saw a perceptible setback. The growth pace was the most rapid in 2015 with an increase of 92%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Greasy Wool Exports

Exports in Western Africa

In 2022, after seven years of growth, there was significant decline in shipments abroad of greasy wool, when their volume decreased by -6.8% to X tons. Overall, exports, however, enjoyed resilient growth. The pace of growth was the most pronounced in 2017 when exports increased by 75% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2021, and then fell in the following year.

In value terms, greasy wool exports fell to $X in 2022. Over the period under review, exports saw a perceptible descent. The most prominent rate of growth was recorded in 2017 when exports increased by 63% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Liberia prevails in exports structure, resulting at X tons, which was near 98% of total exports in 2022. Nigeria (X tons) took a little share of total exports.

Liberia was also the fastest-growing in terms of the greasy wool exports, with a CAGR of +15.4% from 2012 to 2022. Nigeria (-13.4%) illustrated a downward trend over the same period. Liberia (+44 p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by -14.9% from 2012 to 2022, respectively.

In value terms, Liberia ($X) remains the largest greasy wool supplier in Western Africa, comprising 93% of total exports. The second position in the ranking was taken by Nigeria ($X), with a 5.3% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Liberia totaled +13.7%.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, stabilizing at the previous year. In general, the export price recorded a abrupt curtailment. The pace of growth was the most pronounced in 2021 when the export price increased by 3.6%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a 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 Nigeria ($X per ton), while Liberia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Liberia (-1.5%).

Greasy Wool Imports

Imports in Western Africa

In 2022, approx. X tons of greasy wool were imported in Western Africa; surging by 8.1% compared with the year before. Overall, imports, however, saw a noticeable decrease. The pace of growth was the most pronounced in 2015 when imports increased by 166%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports remained at a lower figure.

In value terms, greasy wool imports reached $X in 2022. In general, imports, however, showed a abrupt contraction. The most prominent rate of growth was recorded in 2015 when imports increased by 184%. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Burkina Faso was the key importing country with an import of about X tons, which amounted to 61% of total imports. Nigeria (X tons) held the second position in the ranking, distantly followed by Senegal (X tons). All these countries together held near 31% share of total imports. Niger (X tons) and Ghana (X tons) held a minor share of total imports.

From 2012 to 2022, average annual rates of growth with regard to greasy wool imports into Burkina Faso stood at +9.4%. At the same time, Ghana (+26.0%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +26.0% from 2012-2022. Niger experienced a relatively flat trend pattern. By contrast, Nigeria (-10.4%) and Senegal (-12.8%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Burkina Faso, Niger and Ghana increased by +41, +4 and +3.1 percentage points, respectively.

In value terms, Burkina Faso ($X), Nigeria ($X) and Niger ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 89% share of total imports. Senegal and Ghana lagged somewhat behind, together accounting for a further 5.9%.

Ghana, with a CAGR of +11.8%, saw the highest rates of growth with regard to the value of imports, among 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 Western Africa amounted to $X per ton, with an increase of 2.6% against the previous year. Overall, the import price, however, saw a deep reduction. The growth pace was the most rapid in 2021 when the import price increased by 38%. Over the period under review, import prices attained the peak figure at $X per ton in 2015; however, from 2016 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 ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (-1.2%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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