ECOWAS: Woven Carpet Market 2024

Woven Carpet Market Size in ECOWAS

The ECOWAS woven carpet market declined remarkably to $X in 2022, which is down by X% against the previous year. In general, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X, and then declined significantly in the following year.

Woven Carpet Production in ECOWAS

In value terms, woven carpet production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a abrupt shrinkage. The pace of growth appeared the most rapid in 2021 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2022, production failed to regain momentum.

Woven Carpet Exports

Exports in ECOWAS

Woven carpet exports contracted markedly to X square meters in 2022, declining by X% compared with 2021. Over the period under review, exports, however, continue to indicate a measured increase. The pace of growth appeared the most rapid in 2021 when exports increased by X% against the previous year. The volume of export peaked at X square meters in 2019; however, from 2020 to 2022, the exports stood at a somewhat lower figure.

In value terms, woven carpet exports reduced rapidly to $X in 2022. Overall, exports showed a mild decline. The pace of growth appeared the most rapid in 2014 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Nigeria was the major exporter of woven carpets and other woven textile coverings in ECOWAS, with the volume of exports recording X square meters, which was near X% of total exports in 2022. Ghana (X square meters) ranks second in terms of the total exports with a X% share, followed by Senegal (X%), Cote d'Ivoire (X%) and Mali (X%).

From 2012 to 2022, average annual rates of growth with regard to woven carpet exports from Nigeria stood at X%. At the same time, Mali (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Cote d'Ivoire (X%) and Ghana (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.), Mali (X p.p.) and Senegal (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Cote d'Ivoire (X p.p.) and Ghana (X p.p.) displayed negative dynamics.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports. Cote d'Ivoire and Mali lagged somewhat behind, together accounting for a further X%.

Mali, with a CAGR of X%, recorded the highest growth rate of the value of exports, in terms of 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

The export price in ECOWAS stood at $X per square meter in 2022, with an increase of X% against the previous year. Over the period under review, the export price, however, continues to indicate a perceptible slump. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The level of export peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Cote d'Ivoire ($X per square meter), while Mali ($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 Senegal (X%), while the other leaders experienced more modest paces of growth.

Woven Carpet Imports

Imports in ECOWAS

After two years of growth, overseas purchases of woven carpets and other woven textile coverings decreased by X% to X square meters in 2022. Over the period under review, imports, however, continue to indicate a tangible increase. 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 reached the peak figure at X square meters in 2021, and then contracted rapidly in the following year.

In value terms, woven carpet imports shrank rapidly to $X in 2022. In general, imports showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced dramatically in the following year.

Imports by Country

Ghana (X square meters), Mali (X square meters) and Guinea (X square meters) represented roughly X% of total imports in 2022. Cote d'Ivoire (X square meters) held an X% share (based on physical terms) of total imports, which put it in second place, followed by Gambia (X%). Senegal (X square meters) and Benin (X square meters) took a relatively small share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Guinea (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Guinea ($X) and Mali ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Guinea, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 square meter, increasing by X% against the previous year. In general, the import price, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2019 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 failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Senegal ($X per square meter), while Mali ($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 import price figures.

Source: IndexBox Platform

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