Ghana: Women Knitwear Market 2022

Women Knitwear Market Size in Ghana

The Ghanian women knitwear market skyrocketed to $X in 2021, with an increase of X% against the previous year. In general, consumption showed significant growth. Women knitwear consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Women Knitwear Production in Ghana

In value terms, women knitwear production skyrocketed to $X in 2021 estimated in export price. Overall, production posted a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Women knitwear production peaked at $X in 2019; however, from 2020 to 2021, production remained at a lower figure.

Women Knitwear Exports

Exports from Ghana

In 2021, shipments abroad of women's or girls' clothing (knitted or crocheted) was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. Over the period under review, exports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, women knitwear exports dropped to $X in 2021. In general, exports, however, showed a moderate increase. The growth pace was the most rapid in 2014 when exports increased by X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X units) was the main destination for women knitwear exports from Ghana, accounting for a X% share of total exports. Moreover, women knitwear exports to the United States exceeded the volume sent to the second major destination, Germany (X units), threefold. The Netherlands (X units) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United States totaled -X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+X% per year) and the Netherlands (+X% per year).

In value terms, the United States ($X), Germany ($X) and the Netherlands ($X) were the largest markets for women knitwear exported from Ghana worldwide, with a combined X% share of total exports.

Germany, with a CAGR of +X%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average women knitwear export price amounted to $X per unit, shrinking by -X% against the previous year. Overall, the export price, however, recorded a resilient expansion. The pace of growth was the most pronounced in 2018 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Switzerland ($X per unit), while the average price for exports to Tanzania ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United States (+X%), while the prices for the other major destinations experienced more modest paces of growth.

Women Knitwear Imports

Imports into Ghana

In 2021, overseas purchases of women's or girls' clothing (knitted or crocheted) increased by X% to X units, rising for the third consecutive year after three years of decline. Overall, imports, however, recorded a dramatic contraction. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, women knitwear imports reduced remarkably to $X in 2021. Over the period under review, imports, however, continue to indicate a dramatic decline. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Turkey (X units) constituted the largest supplier of women knitwear to Ghana, accounting for a X% share of total imports. Moreover, women knitwear imports from Turkey exceeded the figures recorded by the second-largest supplier, India (X units), fourfold. The third position in this ranking was occupied by the United States (X units), with an X% share.

From 2012 to 2021, the average annual growth rate of volume from Turkey totaled +X%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+X% per year) and the United States (+X% per year).

In value terms, Turkey ($X) constituted the largest supplier of women knitwear to Ghana, comprising X% of total imports. The second position in the ranking was occupied by the United States ($X), with a X% share of total imports. It was followed by the UK, with an X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Turkey amounted to +X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+X% per year) and the UK (+X% per year).

Import Prices by Country

In 2021, the average women knitwear import price amounted to $X per unit, shrinking by -X% against the previous year. In general, the import price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by X%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices remained at a lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was the UK ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (-X%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform