Western Africa: Net Fabric Market 2024

Net Fabric Market Size in Western Africa

The West African net fabric market fell to $X in 2022, with a decrease of X% against the previous year. Overall, consumption, however, posted a strong expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Net Fabric Production in Western Africa

In value terms, net fabric production reduced to $X in 2022 estimated in export price. In general, production, however, saw buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of X%. 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 Western Africa

In 2022, overseas shipments of tulles and other net fabrics decreased by X% to X tons, falling for the third year in a row after two years of growth. Over the period under review, exports saw a deep contraction. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports failed to regain momentum.

In value terms, net fabric exports fell remarkably to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2019 with an increase of X%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The shipments of the one major exporters of tulles and other net fabrics, namely Nigeria, represented more than two-thirds of total export.

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. While the share of Nigeria (X p.p.) increased significantly, 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 Western Africa.

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

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Overall, the export price continues to indicate a abrupt contraction. The pace of growth was the most pronounced in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2021, and then declined sharply 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 Western Africa

After two years of growth, supplies from abroad of tulles and other net fabrics decreased by X% to X tons in 2022. Overall, imports, however, recorded prominent growth. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, net fabric imports fell remarkably to $X in 2022. In general, imports, however, enjoyed strong growth. The pace of growth was the most pronounced in 2013 with an increase of X%. The level of import peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Ghana prevails in imports structure, amounting to X tons, which was approx. X% of total imports in 2022. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Gambia (X%), Guinea (X%) and Togo (X%). 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. While the share of Ghana (X p.p.), Nigeria (X p.p.), Niger (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Togo (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In Ghana, net fabric imports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Guinea (X% per year) and Nigeria (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, jumping by X% against the previous year. Import price indicated a remarkable increase 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 growth pace was the most rapid in 2018 when the import price increased by X%. Over the period under review, import prices attained the peak figure at $X per ton in 2013; however, from 2014 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 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

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