Western Africa: Men Knitwear Market 2024

Men Knitwear Market Size in Western Africa

The West African men knitwear market reached $X in 2022, increasing by 5.7% against the previous year. Overall, consumption, however, recorded a buoyant increase. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Men Knitwear Production in Western Africa

In value terms, men knitwear production reached $X in 2022 estimated in export price. In general, production enjoyed a buoyant expansion. The growth pace was the most rapid in 2015 with an increase of 43%. The level of production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Men Knitwear Exports

Exports in Western Africa

In 2022, shipments abroad of men's or boys' clothing (knitted or crocheted) increased by 4.5% to X units, rising for the third year in a row after two years of decline. In general, exports posted pronounced growth. The pace of growth was the most pronounced in 2017 with an increase of 136%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, men knitwear exports expanded sharply to $X in 2022. Over the period under review, exports recorded a buoyant increase. The most prominent rate of growth was recorded in 2017 when exports increased by 78% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the immediate term.

Exports by Country

In 2022, Ghana (X units), Mali (X units), Nigeria (X units) and Sierra Leone (X units) was the main exporter of men's or boys' clothing (knitted or crocheted) in Western Africa, mixing up 78% of total export. Togo (X units) ranks next in terms of the total exports with a 5.9% share, followed by Senegal (5.1%). Mauritania (X units) held a minor share of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Sierra Leone (with a CAGR of +17.1%), while the other leaders experienced more modest paces of growth.

In value terms, the largest men knitwear supplying countries in Western Africa were Ghana ($X), Sierra Leone ($X) and Nigeria ($X), together comprising 60% of total exports.

Among the main exporting countries, Sierra Leone, with a CAGR of +30.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, increasing by 9% against the previous year. Export price indicated a pronounced increase from 2012 to 2022: its price increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, men knitwear export price increased by +5.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 an increase of 83%. The level of export peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Sierra Leone ($X per unit), while Mali ($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 (+11.9%), while the other leaders experienced more modest paces of growth.

Men Knitwear Imports

Imports in Western Africa

In 2022, supplies from abroad of men's or boys' clothing (knitted or crocheted) decreased by -31.2% to X units for the first time since 2017, thus ending a four-year rising trend. Total imports indicated notable growth from 2012 to 2022: its volume increased at an average annual rate of +2.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2015 when imports increased by 30%. The volume of import peaked at X units in 2021, and then dropped notably in the following year.

In value terms, men knitwear imports surged to $X in 2022. Total imports indicated a notable increase from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +111.4% against 2019 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Cote d'Ivoire (X units) and Ghana (X units) were the key importers of men's or boys' clothing (knitted or crocheted) in 2022, accounting for approx. 27% and 26% of total imports, respectively. It was distantly followed by Guinea (X units), Nigeria (X units), Senegal (X units) and Liberia (X units), together creating a 42% share of total imports. Sierra Leone (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Nigeria (with a CAGR of +64.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest men knitwear importing markets in Western Africa were Nigeria ($X), Senegal ($X) and Ghana ($X), with a combined 70% share of total imports.

Nigeria, with a CAGR of +42.7%, recorded the highest growth rate of the value of imports, in terms of 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

The import price in Western Africa stood at $X per unit in 2022, jumping by 149% against the previous year. Over the period under review, the import price recorded a modest increase. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, 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 Nigeria ($X per unit), while Sierra Leone ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+7.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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