ECOWAS: Cotton Yarn Market 2024

Cotton Yarn Market Size in ECOWAS

In 2022, the ECOWAS cotton yarn market decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The market value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Cotton Yarn Production in ECOWAS

In value terms, cotton yarn production reduced slightly to $X in 2022 estimated in export price. Overall, production, however, recorded a mild shrinkage. The growth pace was the most rapid in 2020 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2014; however, from 2015 to 2022, production remained at a lower figure.

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Cotton Yarn Exports

Exports in ECOWAS

In 2022, the amount of cotton yarn exported in ECOWAS reduced to X tons, waning by X% compared with 2021. In general, exports showed a dramatic descent. The most prominent rate of growth was recorded in 2018 with an increase of X%. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

In value terms, cotton yarn exports reduced to $X in 2022. Overall, exports continue to indicate a dramatic setback. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Burkina Faso represented the key exporter of cotton yarn in ECOWAS, with the volume of exports resulting at X tons, which was near X% of total exports in 2022. It was distantly followed by Nigeria (X tons), creating a X% share of total exports.

Burkina Faso was also the fastest-growing in terms of the cotton yarn exports, with a CAGR of X% from 2012 to 2022. Nigeria (X%) illustrated a downward trend over the same period. Burkina Faso (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Burkina Faso ($X) remains the largest cotton yarn supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Nigeria ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Burkina Faso stood at X%.

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible descent. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Nigeria (X%).

Cotton Yarn Imports

Imports in ECOWAS

Cotton yarn imports shrank significantly to X tons in 2022, which is down by X% on the previous year. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when imports increased by X%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, cotton yarn imports dropped significantly to $X in 2022. Overall, imports, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of import peaked at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

Cote d'Ivoire (X tons) and Ghana (X tons) were the largest importers of cotton yarn in 2022, amounting to near X% and X% of total imports, respectively. Nigeria (X tons) ranks next in terms of the total imports with a X% share, followed by Burkina Faso (X%). Senegal (X tons), Guinea (X tons) and Mali (X tons) followed a long way behind the leaders.

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

In value terms, Ghana ($X), Cote d'Ivoire ($X) and Nigeria ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

In terms of the main importing countries, Ghana, with a CAGR of X%, recorded 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 ECOWAS amounted to $X per ton, picking up by X% against the previous year. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the import price increased by X%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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