ECOWAS: Twine And Cordage Market 2024

Twine And Cordage Market Size in ECOWAS

The ECOWAS twine and cordage market soared to $X in 2022, rising 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 increased by X% against 2018 indices. The level of consumption peaked in 2022 and is likely to see gradual growth in the immediate term.

Twine And Cordage Production in ECOWAS

In value terms, twine and cordage production rose modestly to $X in 2022 estimated in export price. Overall, production continues to indicate strong growth. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2022, production growth remained at a somewhat lower figure.

Twine And Cordage Exports

Exports in ECOWAS

In 2022, shipments abroad of twine, cordage, rope and cables increased by X% to X tons, rising for the second year in a row after four years of decline. In general, exports, however, recorded a abrupt slump. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2015 to 2022, the growth of the exports remained at a lower figure.

In value terms, twine and cordage exports soared to $X in 2022. Over the period under review, exports, however, faced a abrupt shrinkage. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Senegal represented the main exporter of twine, cordage, rope and cables in ECOWAS, with the volume of exports accounting for X tons, which was near X% of total exports in 2022. Cote d'Ivoire (X tons) ranks second in terms of the total exports with a X% share, followed by Ghana (X%). Togo (X tons) held a little share of total exports.

From 2012 to 2022, the biggest increases were recorded for Senegal (with a CAGR of X%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the largest twine and cordage supplying countries in ECOWAS were Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X), with a combined X% share of total exports.

Senegal, 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 a decline in the exports figures.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2015 an increase of X%. The level of export peaked at $X per ton in 2019; afterwards, it flattened through to 2022.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Senegal ($X per ton) 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.

Twine And Cordage Imports

Imports in ECOWAS

In 2022, approx. X tons of twine, cordage, rope and cables were imported in ECOWAS; picking up by X% on the previous year. Over the period under review, imports posted buoyant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, twine and cordage imports skyrocketed to $X in 2022. Overall, imports enjoyed resilient growth. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria represented the main importer of twine, cordage, rope and cables in ECOWAS, with the volume of imports reaching X tons, which was near X% of total imports in 2022. It was distantly followed by Ghana (X tons) and Senegal (X tons), together achieving a X% share of total imports. The following importers - Guinea (X tons), Burkina Faso (X tons) and Liberia (X tons) - together made up X% of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Liberia (X%), Senegal (X%), Ghana (X%), Guinea (X%) and Burkina Faso (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Nigeria increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Liberia, Guinea and Burkina Faso lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Liberia, with a CAGR of X%, saw the highest rates of growth with regard to 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

In 2022, the import price in ECOWAS amounted to $X per ton, shrinking by X% against the previous year. Over the period under review, the import price showed a perceptible slump. The growth pace was the most rapid in 2015 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton 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 Liberia ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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