Western Africa: Travelling Wool Rug Market 2023

Travelling Wool Rug Market Size in Western Africa

The West African travelling wool rug market declined modestly to $X in 2022, which is down by -2.4% against the previous year. Over the period under review, consumption, however, enjoyed a prominent increase. As a result, consumption reached the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Travelling Wool Rug Production in Western Africa

In value terms, travelling wool rug production shrank to $X in 2022 estimated in export price. In general, production, however, recorded resilient growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 31% against the previous year. As a result, production reached the peak level of $X. From 2020 to 2022, production growth remained at a lower figure.

Travelling Wool Rug Exports

Exports in Western Africa

In 2022, after two years of growth, there was significant decline in shipments abroad of blankets and travelling rugs of wool, when their volume decreased by -8.4% to X units. Overall, exports, however, posted a strong expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 375%. Over the period under review, the exports reached the peak figure at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, travelling wool rug exports fell to $X in 2022. In general, exports, however, posted a buoyant expansion. The pace of growth appeared the most rapid in 2013 when exports increased by 595%. The level of export peaked at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo represented the largest exporting country with an export of around X units, which accounted for 67% of total exports. It was distantly followed by Cote d'Ivoire (X units) and Burkina Faso (X units), together achieving a 26% share of total exports. Niger (X units) and Nigeria (X units) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the blankets and travelling rugs of wool exports, with a CAGR of +20.4% from 2012 to 2022. At the same time, Niger (+5.3%) displayed positive paces of growth. By contrast, Nigeria (-3.8%), Burkina Faso (-14.7%) and Cote d'Ivoire (-17.6%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo, Cote d'Ivoire and Burkina Faso increased by +27, +17 and +9.1 percentage points, respectively.

In value terms, Togo ($X) remains the largest travelling wool rug supplier in Western Africa, comprising 56% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a 22% share of total exports. It was followed by Cote d'Ivoire, with a 13% share.

In Togo, travelling wool rug exports expanded at an average annual rate of +27.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Burkina Faso (-7.7% per year) and Cote d'Ivoire (-23.6% per year).

Export Prices by Country

The export price in Western Africa stood at $X per unit in 2022, with a decrease of -6% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 46% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2014 to 2022, the export prices remained at a somewhat lower figure.

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 Burkina Faso ($X per unit), while Cote d'Ivoire ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Burkina Faso (+8.2%), while the other leaders experienced more modest paces of growth.

Travelling Wool Rug Imports

Imports in Western Africa

In 2022, purchases abroad of blankets and travelling rugs of wool increased by 38% to X units, rising for the third year in a row after four years of decline. Overall, imports showed resilient growth. The most prominent rate of growth was recorded in 2020 with an increase of 117% against the previous year. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, travelling wool rug imports contracted to $X in 2022. Over the period under review, imports recorded a resilient expansion. The most prominent rate of growth was recorded in 2020 when imports increased by 150%. Over the period under review, imports reached the maximum at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

Senegal was the key importer of blankets and travelling rugs of wool in Western Africa, with the volume of imports recording X units, which was approx. 60% of total imports in 2022. Ghana (X units) held the second position in the ranking, followed by Guinea (X units) and Nigeria (X units). All these countries together held approx. 25% share of total imports. Mali (X units), Togo (X units), Burkina Faso (X units) and Niger (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to travelling wool rug imports into Senegal stood at +16.0%. At the same time, Guinea (+35.8%), Mali (+32.3%), Niger (+29.2%), Burkina Faso (+14.0%), Ghana (+7.6%) and Togo (+6.7%) displayed positive paces of growth. Moreover, Guinea emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +35.8% from 2012-2022. By contrast, Nigeria (-6.7%) illustrated a downward trend over the same period. Senegal (+33 p.p.), Guinea (+7 p.p.) and Mali (+2.7 p.p.) significantly strengthened its position in terms of the total imports, while Nigeria saw its share reduced by -22.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X), Nigeria ($X) and Guinea ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 66% of total imports.

In terms of the main importing countries, Guinea, with a CAGR of +38.0%, 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 Western Africa stood at $X per unit in 2022, falling by -28.9% against the previous year. Overall, the import price saw a mild reduction. The most prominent rate of growth was recorded in 2015 an increase of 29%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Nigeria ($X per unit), while Niger ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (+7.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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