ECOWAS: Men Knitwear Market 2024

Men Knitwear Market Size in ECOWAS

The ECOWAS men knitwear market rose rapidly to $X in 2022, surging by X% against the previous year. In general, consumption, however, showed strong growth. The level of consumption peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Men Knitwear Production in ECOWAS

In value terms, men knitwear production expanded notably to $X in 2022 estimated in export price. Overall, production, however, saw a resilient increase. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Men Knitwear Exports

Exports in ECOWAS

In 2022, shipments abroad of men's or boys' clothing (knitted or crocheted) increased by X% to X units, rising for the third year in a row after four years of decline. Over the period under review, exports, however, showed a abrupt descent. The pace of growth appeared the most rapid in 2020 when exports increased by X% against the previous year. The volume of export peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, men knitwear exports surged to $X in 2022. In general, exports, however, showed a noticeable reduction. The pace of growth was the most pronounced in 2021 with an increase of X%. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Sierra Leone (X units), Cabo Verde (X units), Ghana (X units), Togo (X units) and Nigeria (X units) represented roughly X% of total exports in 2022. It was distantly followed by Mali (X units), comprising an X% share of total exports. Burkina Faso (X units) 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 Cabo Verde (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Togo ($X), Cabo Verde ($X) and Ghana ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

In terms of the main exporting countries, Cabo Verde, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 unit, rising by X% against the previous year. Export price indicated temperate 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, men knitwear export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in the near future.

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

Men Knitwear Imports

Imports in ECOWAS

In 2022, overseas purchases of men's or boys' clothing (knitted or crocheted) decreased by X% to X units, falling for the second consecutive year after four years of growth. Overall, imports continue to indicate a perceptible setback. The growth pace was the most rapid in 2018 when imports increased by X%. Over the period under review, imports reached the peak figure at X units in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, men knitwear imports reduced markedly to $X in 2022. Over the period under review, imports showed a deep setback. The pace of growth was the most pronounced in 2015 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

Ghana was the key importing country with an import of about X units, which amounted to X% of total imports. Guinea (X units) held the second position in the ranking, distantly followed by Liberia (X units) and Sierra Leone (X units). All these countries together held approx. X% share of total imports.

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

In value terms, Ghana ($X), Guinea ($X) and Liberia ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Liberia, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per unit, picking up by X% against the previous year. In general, the import price, however, continues to indicate a noticeable decline. The level of import peaked at $X per unit in 2016; however, from 2017 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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