Western Africa: Industrial Sewing Machine Market 2024

Industrial Sewing Machine Market Size in Western Africa

The West African industrial sewing machine market soared to $X in 2022, jumping by 74% against the previous year. Over the period under review, consumption saw a resilient expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Industrial Sewing Machine Production in Western Africa

In value terms, industrial sewing machine production stood at $X in 2022 estimated in export price. Over the period under review, production, however, showed a noticeable setback. The most prominent rate of growth was recorded in 2014 when the production volume increased by 135%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth remained at a lower figure.

Industrial Sewing Machine Exports

Exports in Western Africa

In 2022, overseas shipments of industrial sewing machines increased by 9.6% to X units for the first time since 2019, thus ending a two-year declining trend. Overall, exports, however, continue to indicate a mild setback. The pace of growth appeared the most rapid in 2014 when exports increased by 24,884% against the previous year. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, industrial sewing machine exports dropped to $X in 2022. Over the period under review, exports, however, saw a perceptible decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 85%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Nigeria dominates exports structure, resulting at X units, which was near 71% of total exports in 2022. Ghana (X units) held an 8.8% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (7.4%). Cote d'Ivoire (X units), Togo (X units) and Cabo Verde (X units) followed a long way behind the leaders.

Nigeria experienced a relatively flat trend pattern with regard to volume of exports of industrial sewing machines. At the same time, Ghana (+3.7%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +3.7% from 2012-2022. Cote d'Ivoire and Togo experienced a relatively flat trend pattern. By contrast, Cabo Verde (-5.4%) and Senegal (-8.6%) illustrated a downward trend over the same period. Nigeria (+13 p.p.), Ghana (+3.4 p.p.) and Togo (+3.4 p.p.) significantly strengthened its position in terms of the total exports, while Senegal saw its share reduced by -8.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest industrial sewing machine supplier in Western Africa, comprising 64% of total exports. The second position in the ranking was taken by Senegal ($X), with a 22% share of total exports. It was followed by Ghana, with a 5.6% share.

In Nigeria, industrial sewing machine exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+9.1% per year) and Ghana (+26.1% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, which is down by -17.1% against the previous year. Overall, the export price recorded a slight downturn. The pace of growth was the most pronounced in 2015 an increase of 16,501%. Over the period under review, the export prices hit record highs at $X per unit in 2016; however, from 2017 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 Senegal ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+21.6%), while the other leaders experienced mixed trends in the export price figures.

Industrial Sewing Machine Imports

Imports in Western Africa

In 2022, the amount of industrial sewing machines imported in Western Africa skyrocketed to X units, jumping by 90% against the previous year's figure. Overall, imports saw a prominent increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, industrial sewing machine imports skyrocketed to $X in 2022. In general, imports recorded a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Nigeria (X units) represented the main importer of industrial sewing machines, constituting 68% of total imports. It was distantly followed by Ghana (X units) and Senegal (X units), together mixing up a 21% share of total imports. Togo (X units), Mali (X units) and Cote d'Ivoire (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to industrial sewing machine imports into Nigeria stood at +22.5%. At the same time, Mali (+38.7%), Togo (+26.5%), Cote d'Ivoire (+23.9%), Senegal (+9.9%) and Ghana (+9.5%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +38.7% from 2012-2022. From 2012 to 2022, the share of Nigeria, Togo and Mali increased by +21, +2.2 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported industrial sewing machines in Western Africa, comprising 85% of total imports. The second position in the ranking was held by Ghana ($X), with an 8.1% share of total imports. It was followed by Senegal, with a 2.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Nigeria totaled +19.6%. In the other countries, the average annual rates were as follows: Ghana (+6.1% per year) and Senegal (+5.3% per year).

Import Prices by Country

The import price in Western Africa stood at $X per unit in 2022, dropping by -5.4% against the previous year. In general, the import price recorded a slight contraction. The most prominent rate of growth was recorded in 2015 when the import price increased by 23%. Over the period under review, import prices attained the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

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 ($X per unit), while Togo ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Togo (-1.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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