Western Africa: Cotton Fabric Market 2024

Cotton Fabric Market Size in Western Africa

The West African cotton fabric market was estimated at $X in 2021, surging by 4% against the previous year. The market value increased at an average annual rate of +1.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Cotton Fabric Production in Western Africa

In value terms, cotton fabric production contracted to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a pronounced setback. The pace of growth appeared the most rapid in 2014 when the production volume increased by 33% against the previous year. Over the period under review, production attained the maximum level at $X in 2016; however, from 2017 to 2021, production remained at a lower figure.

Cotton Fabric Exports

Exports in Western Africa

Cotton fabric exports shrank to X tons in 2021, with a decrease of -7% against 2020. Overall, exports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2017 when exports increased by 19%. 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, cotton fabric exports shrank to $X in 2021. Over the period under review, exports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 when exports increased by 38% against the previous year. The level of export peaked at $X in 2019; however, from 2020 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Niger was the main exporting country with an export of around X tons, which reached 54% of total exports. It was distantly followed by Benin (X tons), Togo (X tons) and Cote d'Ivoire (X tons), together constituting a 36% share of total exports. The following exporters - Ghana (X tons) and Nigeria (X tons) - each resulted at an 8% share of total exports.

Niger was also the fastest-growing in terms of the woven fabrics of cotton exports, with a CAGR of +16.8% from 2012 to 2021. Benin (-1.7%), Togo (-7.8%), Ghana (-8.1%), Cote d'Ivoire (-14.4%) and Nigeria (-26.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Niger and Benin increased by +45 and +6.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Niger ($X) remains the largest cotton fabric supplier in Western Africa, comprising 66% of total exports. The second position in the ranking was held by Togo ($X), with a 19% share of total exports. It was followed by Benin, with an 8.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value in Niger stood at +12.8%. In the other countries, the average annual rates were as follows: Togo (+25.9% per year) and Benin (-1.8% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2021, rising by 4.6% against the previous year. Export price indicated resilient growth from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2018 an increase of 17% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2019 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per ton), while Nigeria ($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 (+36.5%), while the other leaders experienced a decline in the export price figures.

Cotton Fabric Imports

Imports in Western Africa

In 2021, overseas purchases of woven fabrics of cotton increased by 27% to X tons, rising for the fifth consecutive year after three years of decline. Overall, imports recorded a strong increase. The pace of growth appeared the most rapid in 2013 with an increase of 64% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see steady growth in the immediate term.

In value terms, cotton fabric imports surged to $X in 2021. Over the period under review, imports saw a buoyant increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Mali (X tons) was the major importer of woven fabrics of cotton, constituting 45% of total imports. Ghana (X tons) ranks second in terms of the total imports with an 8.8% share, followed by Gambia (8.6%), Nigeria (8.3%), Togo (7.6%), Benin (5.7%) and Burkina Faso (5.2%). Cote d'Ivoire (X tons) took a little share of total imports.

Mali was also the fastest-growing in terms of the woven fabrics of cotton imports, with a CAGR of +44.0% from 2012 to 2021. At the same time, Nigeria (+21.4%), Burkina Faso (+9.6%), Ghana (+6.1%) and Gambia (+2.7%) displayed positive paces of growth. By contrast, Benin (-2.0%), Togo (-2.4%) and Cote d'Ivoire (-3.6%) illustrated a downward trend over the same period. While the share of Mali (+41 p.p.) and Nigeria (+5.1 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of Ghana (-2.8 p.p.), Gambia (-6.6 p.p.), Cote d'Ivoire (-7 p.p.), Benin (-9.6 p.p.) and Togo (-13.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mali ($X) constitutes the largest market for imported woven fabrics of cotton in Western Africa, comprising 36% of total imports. The second position in the ranking was taken by Gambia ($X), with a 15% share of total imports. It was followed by Ghana, with a 13% share.

From 2012 to 2021, the average annual growth rate of value in Mali stood at +54.2%. The remaining importing countries recorded the following average annual rates of imports growth: Gambia (+3.6% per year) and Ghana (+3.8% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, surging by 13% against the previous year. Overall, the import price, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 an increase of 23%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Nigeria (+18.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :