ECOWAS: Handbag Market 2024

Handbag Market Size in ECOWAS

After two years of growth, the ECOWAS handbag market decreased by X% to $X in 2022. Overall, consumption, however, continues to indicate a perceptible decrease. The level of consumption peaked at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Handbag Production in ECOWAS

In value terms, handbag production dropped to $X in 2022 estimated in export price. Overall, production, however, continues to indicate a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of X%. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Handbag Exports

Exports in ECOWAS

In 2022, the amount of handbags exported in ECOWAS declined to X units, shrinking by X% against 2021. Over the period under review, exports continue to indicate a pronounced slump. The pace of growth was the most pronounced in 2017 when exports increased by X%. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, handbag exports fell sharply to $X in 2022. Overall, exports showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana was the major exporting country with an export of around X units, which reached X% of total exports. It was distantly followed by Mali (X units), Burkina Faso (X units), Cote d'Ivoire (X units) and Senegal (X units), together constituting a X% share of total exports. Liberia (X units) and Sierra Leone (X units) took a relatively small share of total exports.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Mali (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%), Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Ghana, Mali, Liberia and Sierra Leone increased by X, X, X and X percentage points, respectively.

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

From 2012 to 2022, the average annual rate of growth in terms of value in Ghana amounted to X%. In the other countries, the average annual rates were as follows: Mali (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per unit in 2022, reducing by X% against the previous year. Export price indicated perceptible 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, handbag export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Burkina Faso ($X per unit) 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 more modest paces of growth.

Handbag Imports

Imports in ECOWAS

After two years of growth, supplies from abroad of handbags decreased by X% to X units in 2022. Overall, imports, however, saw a temperate expansion. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then contracted sharply in the following year.

In value terms, handbag imports reduced modestly to $X in 2022. Total imports indicated a buoyant increase 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 2013 indices. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports reached the peak of $X, and then declined in the following year.

Imports by Country

In 2022, Guinea (X units) represented the major importer of handbags, making up X% of total imports. Burkina Faso (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units), Liberia (X units) and Senegal (X units). All these countries together took near X% share of total imports. The following importers - Sierra Leone (X units) and Nigeria (X units) - each finished at a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to handbag imports into Guinea stood at X%. At the same time, Nigeria (X%), Burkina Faso (X%), Sierra Leone (X%), Liberia (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Guinea, Burkina Faso, Cote d'Ivoire, Liberia, Nigeria, Senegal and Sierra Leone increased by X, X, X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Guinea ($X), Burkina Faso ($X) and Cote d'Ivoire ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Senegal, Liberia, Nigeria and Sierra Leone lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Nigeria, with a CAGR of X%, recorded the highest growth rate of the value of imports, 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, growing by X% against the previous year. Import price indicated pronounced 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, handbag import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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