ECOWAS: Sportswear Market 2024

Sportswear Market Size in ECOWAS

The ECOWAS sportswear market declined slightly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption recorded a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Sportswear Production in ECOWAS

In value terms, sportswear production fell to $X in 2022 estimated in export price. In general, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2016 with an increase of X%. As a result, production attained the peak level of $X. From 2017 to 2022, production growth failed to regain momentum.

Sportswear Exports

Exports in ECOWAS

In 2022, approx. X units of track suits, ski suits and swimwear were exported in ECOWAS; falling by X% on 2021. In general, exports, however, showed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, the exports attained the peak of X units, and then declined rapidly in the following year.

In value terms, sportswear exports dropped remarkably to $X in 2022. Overall, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The level of export peaked at $X in 2021, and then fell significantly in the following year.

Exports by Country

Togo represented the largest exporter of track suits, ski suits and swimwear in ECOWAS, with the volume of exports recording X units, which was near X% of total exports in 2022. It was distantly followed by Sierra Leone (X units) and Senegal (X units), together generating a X% share of total exports. Ghana (X units) held a minor share of total exports.

Togo was also the fastest-growing in terms of the track suits, ski suits and swimwear exports, with a CAGR of X% from 2012 to 2022. At the same time, Senegal (X%), Ghana (X%) and Sierra Leone (X%) displayed positive paces of growth. While the share of Togo (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (X p.p.), Ghana (X p.p.) and Sierra Leone (X p.p.) displayed negative dynamics.

In value terms, Togo ($X) remains the largest sportswear supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Senegal ($X), with a X% share of total exports. It was followed by Sierra Leone, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Togo amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (X% per year) and Sierra Leone (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per unit, rising by X% against the previous year. Overall, the export price posted a pronounced increase. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the export prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, the export prices failed to regain momentum.

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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the export price figures.

Sportswear Imports

Imports in ECOWAS

In 2022, overseas purchases of track suits, ski suits and swimwear decreased by X% to X units, falling for the second consecutive year after four years of growth. In general, imports showed a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports attained the peak of X units. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, sportswear imports shrank remarkably to $X in 2022. Overall, imports showed a noticeable shrinkage. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Ghana was the key importer of track suits, ski suits and swimwear in ECOWAS, with the volume of imports resulting at X units, which was near X% of total imports in 2022. Senegal (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Guinea (X%), Mali (X%), Cote d'Ivoire (X%) and Cabo Verde (X%). Sierra Leone (X units) took a little share of total imports.

Ghana experienced a relatively flat trend pattern with regard to volume of imports of track suits, ski suits and swimwear. At the same time, Mali (X%), Cabo Verde (X%), Guinea (X%), Sierra Leone (X%), Senegal (X%) and Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Mali emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. Ghana (X p.p.), Guinea (X p.p.), Senegal (X p.p.), Mali (X p.p.), Cabo Verde (X p.p.), Cote d'Ivoire (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Ghana ($X) and Guinea ($X) were the countries with the highest levels of imports in 2022, together accounting for X% of total imports. Cote d'Ivoire, Mali, Cabo Verde and Sierra Leone lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Mali, 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

The import price in ECOWAS stood at $X per unit in 2022, jumping by X% against the previous year. Import price indicated a prominent 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. Based on 2022 figures, sportswear import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. The level of import peaked at $X per unit in 2015; however, from 2016 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 Senegal ($X per unit), while Ghana ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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