ECOWAS: Net Fabric Market 2024

Net Fabric Market Size in ECOWAS

The ECOWAS net fabric market reduced to $X in 2022, waning by X% against the previous year. Overall, consumption, however, enjoyed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Net Fabric Production in ECOWAS

In value terms, net fabric production fell to $X in 2022 estimated in export price. Over the period under review, production, however, enjoyed prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2020 to 2022, production growth remained at a somewhat lower figure.

Net Fabric Exports

Exports in ECOWAS

In 2022, overseas shipments of tulles and other net fabrics decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, exports showed a deep slump. The pace of growth was the most pronounced in 2016 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, net fabric exports declined notably to $X in 2022. Over the period under review, exports recorded a significant decrease. The pace of growth appeared the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria (X tons) represented roughly X% of total exports in 2022.

Nigeria was also the fastest-growing in terms of the tulles and other net fabrics exports, with a CAGR of X% from 2012 to 2022. From 2012 to 2022, the share of Nigeria increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) also remains the largest net fabric supplier in ECOWAS.

From 2012 to 2022, the average annual growth rate of value in Nigeria totaled X%.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, falling by X% against the previous year. Overall, the export price faced a deep setback. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. The level of export peaked at $X per ton in 2021, and then dropped dramatically in the following year.

As there is only one major export destination, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Net Fabric Imports

Imports in ECOWAS

In 2022, after two years of growth, there was significant decline in purchases abroad of tulles and other net fabrics, when their volume decreased by X% to X tons. In general, imports, however, saw a remarkable increase. The pace of growth appeared the most rapid in 2013 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, net fabric imports declined remarkably to $X in 2022. Overall, imports, however, posted a prominent increase. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

Ghana dominates imports structure, accounting for X tons, which was approx. X% of total imports in 2022. Nigeria (X tons) took the second position in the ranking, followed by Gambia (X tons), Guinea (X tons) and Togo (X tons). All these countries together held near X% share of total imports. The following importers - Cote d'Ivoire (X tons) and Niger (X tons) - each accounted for a X% share of total imports.

Ghana was also the fastest-growing in terms of the tulles and other net fabrics imports, with a CAGR of X% from 2012 to 2022. At the same time, Niger (X%), Nigeria (X%), Guinea (X%), Cote d'Ivoire (X%) and Gambia (X%) displayed positive paces of growth. By contrast, Togo (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Nigeria (X p.p.), Niger (X p.p.) and Guinea (X p.p.) significantly strengthened its position in terms of the total imports, while Togo saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Ghana ($X) constitutes the largest market for imported tulles and other net fabrics in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Guinea ($X), with an X% share of total imports. It was followed by Nigeria, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Ghana totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, rising by X% against the previous year. Import price indicated buoyant 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. The most prominent rate of growth was recorded in 2018 when the import price increased by X%. The level of import peaked at $X per ton in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Guinea ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :