Western Africa: Sewing Thread Market 2024

Sewing Thread Exports

Exports in Western Africa

In 2022, overseas shipments of sewing thread of man-made filaments or staple fibers increased by 12% to X tons, rising for the second year in a row after four years of decline. Over the period under review, exports saw strong growth. The most prominent rate of growth was recorded in 2013 with an increase of 152% against the previous year. The volume of export peaked at X tons in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, sewing thread exports shrank remarkably to $X in 2022. In general, exports, however, recorded a abrupt decrease. The growth pace was the most rapid in 2013 with an increase of 78%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria represented the largest exporting country with an export of around X tons, which reached 51% of total exports. Togo (X tons) ranks second in terms of the total exports with a 23% share, followed by Mali (10%), Ghana (8.1%) and Cote d'Ivoire (5.7%).

From 2012 to 2022, average annual rates of growth with regard to sewing thread exports from Nigeria stood at +9.3%. At the same time, Togo (+21.6%) and Ghana (+2.8%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of +21.6% from 2012-2022. By contrast, Cote d'Ivoire (-1.9%) and Mali (-7.0%) illustrated a downward trend over the same period. Togo (+18 p.p.) and Nigeria (+17 p.p.) significantly strengthened its position in terms of the total exports, while Ghana, Cote d'Ivoire and Mali saw its share reduced by -1.9%, -5.5% and -23.8% from 2012 to 2022, respectively.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Mali ($X) constituted the countries with the highest levels of exports in 2022, together comprising 80% of total exports.

Cote d'Ivoire, with a CAGR of -1.5%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, dropping by -36.2% against the previous year. Over the period under review, the export price showed a deep slump. The most prominent rate of growth was recorded in 2018 when the export price increased by 59% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the export prices remained at a somewhat 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 Cote d'Ivoire ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+1.5%), while the other leaders experienced mixed trends in the export price figures.

Sewing Thread Imports

Imports in Western Africa

In 2022, approx. X tons of sewing thread of man-made filaments or staple fibers were imported in Western Africa; with an increase of 7.7% against the year before. Over the period under review, imports, however, continue to indicate a pronounced slump. The pace of growth appeared the most rapid in 2016 when imports increased by 87%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, sewing thread imports shrank to $X in 2022. Overall, imports, however, showed a perceptible downturn. The pace of growth was the most pronounced in 2016 with an increase of 21% against the previous year. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

Nigeria represented the key importer of sewing thread of man-made filaments or staple fibers in Western Africa, with the volume of imports reaching X tons, which was approx. 53% of total imports in 2022. Ghana (X tons) held a 17% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (6.6%) and Burkina Faso (4.6%). The following importers - Guinea (X tons), Cote d'Ivoire (X tons) and Togo (X tons) - each reached a 12% share of total imports.

Imports into Nigeria decreased at an average annual rate of -4.7% from 2012 to 2022. At the same time, Togo (+35.6%), Guinea (+9.5%), Burkina Faso (+8.5%) and Cote d'Ivoire (+2.2%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +35.6% from 2012-2022. Senegal and Ghana experienced a relatively flat trend pattern. Togo (+3.5 p.p.), Burkina Faso (+3.1 p.p.), Guinea (+2.9 p.p.), Ghana (+2.9 p.p.) and Cote d'Ivoire (+1.5 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -12.5% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported sewing thread of man-made filaments or staple fibers in Western Africa, comprising 32% of total imports. The second position in the ranking was taken by Senegal ($X), with a 15% share of total imports. It was followed by Nigeria, with a 15% share.

In Ghana, sewing thread imports shrank by an average annual rate of -3.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Senegal (-4.6% per year) and Nigeria (-7.5% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, dropping by -19.4% against the previous year. Over the period under review, the import price showed a slight reduction. The pace of growth was the most pronounced in 2014 when the import price increased by 49%. Over the period under review, import prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Cote d'Ivoire ($X per ton), while Nigeria ($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 (+1.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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