ECOWAS: Market for Woven Pile Fabrics And Chenille Fabrics 2024

Market Size for Woven Pile Fabrics And Chenille Fabrics in ECOWAS

In 2023, the ECOWAS pile and chenille fabric market decreased by X% to $X, falling for the third consecutive year after four years of growth. Over the period under review, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2023, consumption remained at a lower figure.

Production of Woven Pile Fabrics And Chenille Fabrics in ECOWAS

In value terms, pile and chenille fabric production totaled $X in 2023 estimated in export price. Overall, production, however, saw a mild downturn. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2023, production growth remained at a lower figure.

Exports of Woven Pile Fabrics And Chenille Fabrics

Exports in ECOWAS

Pile and chenille fabric exports fell dramatically to X tons in 2023, which is down by X% against the previous year's figure. In general, exports, however, saw strong growth. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2023, the growth of the exports failed to regain momentum.

In value terms, pile and chenille fabric exports shrank significantly to $X in 2023. Over the period under review, exports recorded a perceptible decrease. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2023, the growth of the exports failed to regain momentum.

Exports by Country

Ghana represented the main exporting country with an export of about X tons, which recorded X% of total exports. It was distantly followed by Guinea (X kg), achieving a X% share of total exports. Gambia (X kg), Nigeria (X kg) and Cote d'Ivoire (X kg) followed a long way behind the leaders.

Exports from Ghana increased at an average annual rate of X% from 2012 to 2023. At the same time, Guinea (X%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2023. By contrast, Gambia (X%), Cote d'Ivoire (X%) and Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Ghana and Guinea increased by X and X percentage points, respectively.

In value terms, Ghana ($X) remains the largest pile and chenille fabric supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Ghana totaled X%. The remaining exporting countries recorded the following average annual rates of exports growth: Guinea (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2023, shrinking by X% against the previous year. In general, the export price showed a abrupt decrease. The growth pace was the most rapid in 2015 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2023, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Gambia ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Imports of Woven Pile Fabrics And Chenille Fabrics

Imports in ECOWAS

In 2023, supplies from abroad of woven pile fabrics and chenille fabrics decreased by X% to X tons, falling for the third year in a row after six years of growth. In general, imports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

In value terms, pile and chenille fabric imports reduced to $X in 2023. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports hit record highs at $X in 2020; however, from 2021 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Nigeria (X tons) was the largest importer of woven pile fabrics and chenille fabrics, comprising X% of total imports. It was distantly followed by Ghana (X tons) and Senegal (X tons), together achieving a X% share of total imports. Cote d'Ivoire (X tons), Guinea (X tons) and Gambia (X tons) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2023. At the same time, Senegal (X%), Ghana (X%), Gambia (X%), Guinea (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Ghana, Senegal and Nigeria increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X), Ghana ($X) and Guinea ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Guinea, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, in terms of 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 ECOWAS stood at $X per ton in 2023, flattening at the previous year. Over the period under review, the import price, however, showed a deep contraction. The pace of growth was the most pronounced in 2019 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Guinea ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform