ECOWAS: Carpet Market 2024

Carpet Market Size in ECOWAS

The ECOWAS carpet market amounted to $X in 2022, increasing by X% against the previous year. The total consumption indicated a temperate expansion 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 2020 indices. Over the period under review, the market reached the peak level at $X in 2020; afterwards, it flattened through to 2022.

Carpet Production in ECOWAS

In value terms, carpet production rose to $X in 2022 estimated in export price. The total production indicated a noticeable expansion 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Carpet Exports

Exports in ECOWAS

In 2022, overseas shipments of carpets and other textile floor coverings increased by X% to X square meters, rising for the second consecutive year after three years of decline. In general, exports showed a perceptible expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports attained the peak of X square meters. From 2014 to 2022, the growth of the exports failed to regain momentum.

In value terms, carpet exports shrank to $X in 2022. Over the period under review, exports, however, saw a abrupt slump. The most prominent rate of growth was recorded in 2013 with an increase of X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

In 2022, Senegal (X square meters), Burkina Faso (X square meters) and Nigeria (X square meters) was the main exporter of carpets and other textile floor coverings in ECOWAS, achieving X% of total export. It was distantly followed by Niger (X square meters), Ghana (X square meters) and Cote d'Ivoire (X square meters), together constituting a X% share of total exports. Gambia (X square meters) held a little 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 Niger (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest carpet supplying countries in ECOWAS were Senegal ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total exports. Cote d'Ivoire, Gambia, Burkina Faso and Niger lagged somewhat behind, together comprising a further X%.

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries 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 ECOWAS amounted to $X per square meter, with a decrease of X% against the previous year. Overall, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per square meter in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per square meter), while Niger ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced a decline in the export price figures.

Carpet Imports

Imports in ECOWAS

In 2022, overseas purchases of carpets and other textile floor coverings decreased by X% to X square meters for the first time since 2016, thus ending a five-year rising trend. Overall, imports, however, showed a prominent expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports hit record highs at X square meters in 2021, and then contracted in the following year.

In value terms, carpet imports shrank to $X in 2022. Total imports 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, imports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

Ghana was the key importing country with an import of about X square meters, which finished at X% of total imports. Guinea (X square meters) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Cote d'Ivoire (X%), Senegal (X%) and Benin (X%). Burkina Faso (X square meters) took a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to carpet imports into Ghana stood at X%. At the same time, Guinea (X%), Mali (X%), Senegal (X%), Burkina Faso (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Benin experienced a relatively flat trend pattern. Ghana (X p.p.), Guinea (X p.p.) and Mali (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire and Benin saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported carpets and other textile floor coverings in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Cote d'Ivoire ($X), with an X% share of total imports. It was followed by Guinea, with a X% share.

In Ghana, carpet imports expanded at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Guinea (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per square meter in 2022, with an increase of X% against the previous year. Overall, the import price, however, showed a abrupt contraction. The pace of growth appeared the most rapid in 2015 when the import price increased by X% against the previous year. The level of import peaked at $X per square meter in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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 Ghana ($X per square meter), while Burkina Faso ($X per square meter) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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