Western Africa: Leather Market 2022

Leather Market Size in Western Africa

The West African leather market reached $X in 2021, surging by 6.2% against the previous year. The market value increased at an average annual rate of +5.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The level of consumption peaked at $X in 2017; afterwards, it flattened through to 2021.

Leather Production in Western Africa

In value terms, leather production rose modestly to $X in 2021 estimated in export price. Overall, production, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by 18%. The level of production peaked at $X in 2017; however, from 2018 to 2021, production remained at a lower figure.

Leather Exports

Exports in Western Africa

For the fourth consecutive year, Western Africa recorded decline in overseas shipments of leather, which decreased by -17.2% to X tons in 2021. In general, exports showed a deep downturn. The most prominent rate of growth was recorded in 2017 when exports increased by 28%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2021, the exports stood at a somewhat lower figure.

In value terms, leather exports shrank modestly to $X in 2021. Overall, exports faced a abrupt downturn. The pace of growth was the most pronounced in 2017 with an increase of 23% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

Nigeria dominates exports structure, accounting for X tons, which was approx. 76% of total exports in 2021. Senegal (X tons) took the second position in the ranking, followed by Mali (X tons). All these countries together took near 16% share of total exports. Mauritania (X tons), Cote d'Ivoire (X tons) and Niger (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to leather exports from Nigeria stood at -14.9%. Mauritania (-3.7%), Niger (-3.9%), Senegal (-7.9%), Cote d'Ivoire (-10.4%) and Mali (-19.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal and Mauritania increased by +4.1 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest leather supplier in Western Africa, comprising 93% of total exports. The second position in the ranking was held by Senegal ($X), with a 2.8% share of total exports. It was followed by Mali, with a 1.5% share.

From 2012 to 2021, the average annual growth rate of value in Nigeria amounted to -12.3%. In the other countries, the average annual rates were as follows: Senegal (-5.9% per year) and Mali (-22.2% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, surging by 17% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.3%. The most prominent rate of growth was recorded in 2013 when the export price increased by 47% against the previous year. The level of export peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Niger (+13.0%), while the other leaders experienced more modest paces of growth.

Leather Imports

Imports in Western Africa

In 2021, overseas purchases of leather increased by 37% to X tons, rising for the fifth consecutive year after three years of decline. Over the period under review, imports continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the peak figure at X tons in 2013; afterwards, it flattened through to 2021.

In value terms, leather imports surged to $X in 2021. In general, imports continue to indicate a strong increase. The most prominent rate of growth was recorded in 2017 with an increase of 24%. Over the period under review, imports reached the maximum in 2021 and are likely to continue growth in the immediate term.

Imports by Country

Nigeria prevails in imports structure, finishing at X tons, which was near 85% of total imports in 2021. It was distantly followed by Ghana (X tons), making up a 5% share of total imports. Senegal (X tons), Mali (X tons) and Togo (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to leather imports into Nigeria stood at +3.1%. At the same time, Togo (+6.9%) and Mali (+6.7%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +6.9% from 2012-2021. By contrast, Senegal (-8.2%) and Ghana (-15.1%) illustrated a downward trend over the same period. While the share of Nigeria (+20 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Senegal (-3.1 p.p.) and Ghana (-16.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported leather in Western Africa, comprising 97% of total imports. The second position in the ranking was held by Ghana ($X), with a 1% share of total imports. It was followed by Mali, with a 0.4% share.

In Nigeria, leather imports increased at an average annual rate of +10.6% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (-7.3% per year) and Mali (-1.1% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, with a decrease of -13.8% against the previous year. Overall, the import price, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2014 when the import price increased by 120% against the previous year. Over the period under review, import prices reached the maximum at $X per ton in 2017; however, from 2018 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Nigeria ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ghana (+9.1%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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