Western Africa: Market for Nets of Twine, Cordage, Rope or Textile Materials 2022

Market Size for Nets of Twine, Cordage, Rope or Textile Materials in Western Africa

The West African market for nets of twine, cordage, rope or textile materials shrank rapidly to $X in 2021, which is down by -33.2% against the previous year. Overall, consumption showed a noticeable decrease. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Production of Nets of Twine, Cordage, Rope or Textile Materials in Western Africa

In value terms, twine, cordage or textile net production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +4.3% over the period from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 29% against the previous year. The level of production peaked at $X in 2020, and then shrank in the following year.

Exports of Nets of Twine, Cordage, Rope or Textile Materials

Exports in Western Africa

Twine, cordage or textile net exports soared to X tons in 2021, increasing by 31% on the year before. Total exports indicated a strong increase from 2012 to 2021: its volume increased at an average annual rate of +5.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +92.8% against 2017 indices. The pace of growth appeared the most rapid in 2020 with an increase of 40%. Over the period under review, the exports attained the peak figure in 2021 and are likely to see gradual growth in the immediate term.

In value terms, twine, cordage or textile net exports expanded remarkably to $X in 2021. The total export value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern remained consistent, with only minor fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 17%. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the immediate term.

Exports by Country

Togo (X tons) and Mauritania (X tons) prevails in exports structure, together mixing up 88% of total exports. It was distantly followed by Ghana (X tons), comprising a 6.4% share of total exports. Sierra Leone (X tons) held a little share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the leading exporting countries, was attained by Mauritania (with a CAGR of +78.0%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X) remains the largest twine, cordage or textile net supplier in Western Africa, comprising 82% of total exports. The second position in the ranking was held by Mauritania ($X), with a 9% share of total exports. It was followed by Ghana, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value in Togo was relatively modest. In the other countries, the average annual rates were as follows: Mauritania (+41.1% per year) and Ghana (+11.6% per year).

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per ton, falling by -17.1% against the previous year. In general, the export price showed a perceptible contraction. The pace of growth appeared the most rapid in 2017 an increase of 11% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Imports of Nets of Twine, Cordage, Rope or Textile Materials

Imports in Western Africa

In 2021, imports of nets of twine, cordage, rope or textile materials in Western Africa dropped rapidly to X tons, reducing by -39.2% on 2020 figures. In general, imports continue to indicate a pronounced curtailment. The pace of growth appeared the most rapid in 2017 when imports increased by 59%. As a result, imports reached the peak of X tons. From 2018 to 2021, the growth of imports failed to regain momentum.

In value terms, twine, cordage or textile net imports reduced dramatically to $X in 2021. Overall, imports continue to indicate a pronounced curtailment. The growth pace was the most rapid in 2014 with an increase of 48%. As a result, imports reached the peak of $X. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Ghana was the major importer of nets of twine, cordage, rope or textile materials in Western Africa, with the volume of imports finishing at X tons, which was near 42% of total imports in 2021. Senegal (X tons) took a 13% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (9.6%), Cote d'Ivoire (9.1%), Nigeria (6.8%) and Gambia (5.3%). Togo (X tons) took a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to twine, cordage or textile net imports into Ghana stood at -6.4%. At the same time, Gambia (+25.5%), Senegal (+9.5%), Guinea (+5.9%) and Togo (+2.6%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +25.5% from 2012-2021. By contrast, Cote d'Ivoire (-4.1%) and Nigeria (-10.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Senegal, Guinea, Gambia and Togo increased by +8.8, +5.3, +4.8 and +1.7 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported nets of twine, cordage, rope or textile materials in Western Africa, comprising 48% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with a 14% share of total imports. It was followed by Senegal, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in Ghana totaled -4.9%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (-2.4% per year) and Senegal (+5.2% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2021, approximately equating the previous year. In general, the import price showed a slight decrease. The most prominent rate of growth was recorded in 2016 an increase of 9% against the previous year. As a result, import price reached the peak level of $X per ton. From 2017 to 2021, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Cote d'Ivoire ($X per ton), while Gambia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (+1.7%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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