ECOWAS: Blanket Market 2024

Blanket Market Size in ECOWAS

The ECOWAS blanket market fell slightly to $X in 2022, dropping by X% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2019 indices. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Blanket Production in ECOWAS

In value terms, blanket production dropped to $X in 2022 estimated in export price. Overall, production, however, saw a prominent expansion. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Blanket Exports

Exports in ECOWAS

In 2022, after two years of decline, there was significant growth in overseas shipments of blankets and traveling rugs (except electric blankets), when their volume increased by X% to X units. Overall, exports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. As a result, the exports reached the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, blanket exports surged to $X in 2022. Over the period under review, exports, however, showed a slight downturn. The most prominent rate of growth was recorded in 2019 when exports increased by X%. The level of export peaked at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Nigeria (X units), committing an X% share of total exports. Cabo Verde (X units) and Ghana (X units) held a little share of total exports.

From 2012 to 2022, average annual rates of growth with regard to blanket exports from Cote d'Ivoire stood at X%. At the same time, Cabo Verde (X%) displayed positive paces of growth. Moreover, Cabo Verde emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) and Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire and Cabo Verde increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X) remains the largest blanket supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Nigeria, with a X% share.

In Cote d'Ivoire, blanket exports increased at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Ghana (X% per year) and Nigeria (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, with a decrease of X% against the previous year. Over the period under review, the export price showed a mild slump. The growth pace was the most rapid in 2014 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2015 to 2022, the export prices remained at a 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 Ghana ($X per unit), while Cote d'Ivoire ($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 (X%), while the other leaders experienced mixed trends in the export price figures.

Blanket Imports

Imports in ECOWAS

In 2022, purchases abroad of blankets and traveling rugs (except electric blankets) decreased by X% to X units, falling for the second year in a row after two years of growth. Overall, imports continue to indicate a drastic downturn. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, blanket imports contracted to $X in 2022. Total imports indicated slight growth from 2012 to 2022: its value increased at an average annual rate of X% 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 X% against 2016 indices. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

The purchases of the three major importers of blankets and traveling rugs (except electric blankets), namely Benin, Ghana and Togo, represented more than half of total import. Cote d'Ivoire (X units) took the next position in the ranking, followed by Guinea (X units), Nigeria (X units) and Senegal (X units). All these countries together held approx. X% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Guinea (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest blanket importing markets in ECOWAS were Ghana ($X), Togo ($X) and Benin ($X), together comprising X% of total imports. Guinea, Senegal, Cote d'Ivoire and Nigeria lagged somewhat behind, together comprising a further X%.

Guinea, with a CAGR of X%, saw the highest growth rate of the value of imports, among 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 ECOWAS stood at $X per unit in 2022, increasing by X% against the previous year. Import price indicated strong growth from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, blanket import price increased by X% against 2020 indices. The growth pace was the most rapid in 2014 when the import price increased by X%. Over the period under review, import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Togo ($X per unit), while Nigeria ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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