Western Africa: Twine And Cordage Market 2024

Twine And Cordage Market Size in Western Africa

The West African twine and cordage market surged to $X in 2022, picking up by X% against the previous year. The total consumption indicated a buoyant increase 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 expected to retain growth in the near future.

Twine And Cordage Production in Western Africa

In value terms, twine and cordage production expanded modestly to $X in 2022 estimated in export price. Over the period under review, production enjoyed a prominent increase. The most prominent rate of growth was recorded 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 failed to regain momentum.

Twine And Cordage Exports

Exports in Western Africa

In 2022, overseas shipments 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, saw a abrupt contraction. The pace of growth appeared the most rapid 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 somewhat lower figure.

In value terms, twine and cordage exports skyrocketed to $X in 2022. Over the period under review, exports, however, recorded a drastic downturn. The most prominent rate of growth was recorded in 2014 with an increase of X%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Senegal represented the key exporting country with an export of around X tons, which finished at X% of total exports. Cote d'Ivoire (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%). Togo (X tons) took a relatively small 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, Senegal ($X), Ghana ($X) and Cote d'Ivoire ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Senegal, with a CAGR of X%, recorded the highest growth rate of 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

The export price in Western Africa stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2015 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per ton in 2019; afterwards, it flattened through to 2022.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Western Africa

In 2022, approx. X tons of twine, cordage, rope and cables were imported in Western Africa; with an increase of X% on the year before. In general, imports continue to indicate a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

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

Imports by Country

Nigeria was the key importing country with an import of about X tons, which recorded X% of total imports. Ghana (X tons) ranks second in terms of the total imports with a X% share, followed by Senegal (X%). The following importers - Mauritania (X tons), 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%), Mauritania (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 Western Africa, with a CAGR of X% from 2012-2022. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while Senegal and Ghana saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Liberia, Guinea, Mauritania 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 growth rate of 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 Western Africa amounted to $X per ton, waning by X% against the previous year. Over the period under review, the import price showed a noticeable decrease. The most prominent rate of growth was recorded in 2015 when the import price increased by X%. The level of import peaked at $X per ton in 2016; however, from 2017 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 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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