Western Africa: Cotton Fabric Market 2024

Cotton Fabric Market Size in Western Africa

The West African cotton fabric market amounted to $X in 2023, increasing by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market attained the peak level in 2023 and is expected to retain growth in the near future.

Cotton Fabric Production in Western Africa

In value terms, cotton fabric production shrank to $X in 2023 estimated in export price. Over the period under review, production saw a perceptible setback. The most prominent rate of growth was recorded in 2018 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Cotton Fabric Exports

Exports in Western Africa

In 2023, overseas shipments of woven fabrics of cotton decreased by X% to X square meters, falling for the fourth consecutive year after two years of growth. Over the period under review, exports saw a deep contraction. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X square meters in 2012; however, from 2013 to 2023, the exports failed to regain momentum.

In value terms, cotton fabric exports skyrocketed to $X in 2023. In general, exports recorded a noticeable slump. The level of export peaked at $X in 2014; however, from 2015 to 2023, the exports failed to regain momentum.

Exports by Country

Benin (X square meters) and Cote d'Ivoire (X square meters) were the key exporters of woven fabrics of cotton in 2023, recording near X% and X% of total exports, respectively. Togo (X square meters) ranks next in terms of the total exports with a X% share, followed by Ghana (X%). The following exporters - Niger (X square meters), Nigeria (X square meters) and Mali (X square meters) - together made up X% of total exports.

From 2012 to 2023, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Cote d'Ivoire (with a CAGR of X%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest cotton fabric supplying countries in Western Africa were Togo ($X), Cote d'Ivoire ($X) and Benin ($X), with a combined X% share of total exports.

Among the main exporting countries, Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, 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 square meter in 2023, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. The level of export peaked in 2023 and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Togo ($X per square meter), while Nigeria ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced mixed trends in the export price figures.

Cotton Fabric Imports

Imports in Western Africa

In 2023, supplies from abroad of woven fabrics of cotton was finally on the rise to reach X square meters after two years of decline. In general, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. Over the period under review, imports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, cotton fabric imports expanded significantly to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of import peaked at $X in 2021; however, from 2022 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, Mali (X square meters) represented the main importer of woven fabrics of cotton, mixing up X% of total imports. It was distantly followed by Nigeria (X square meters), Ghana (X square meters), Gambia (X square meters), Burkina Faso (X square meters), Togo (X square meters) and Benin (X square meters), together constituting a X% share of total imports.

Mali experienced a relatively flat trend pattern with regard to volume of imports of woven fabrics of cotton. At the same time, Nigeria (X%), Burkina Faso (X%), Ghana (X%) and Gambia (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Benin (X%) and Togo (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Burkina Faso (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total imports, while Benin, Mali and Togo saw its share reduced by X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest cotton fabric importing markets in Western Africa were Mali ($X), Gambia ($X) and Ghana ($X), with a combined X% share of total imports. Togo, Benin, Nigeria and Burkina Faso lagged somewhat behind, together comprising a further X%.

Nigeria, 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

The import price in Western Africa stood at $X per square meter in 2023, with an increase of X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 when the import price increased by X% against the previous year. Over the period under review, import prices hit record highs at $X per square meter in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Gambia ($X per square meter), while Burkina Faso ($X per square meter) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Togo (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform