Western Africa: Handbag Market 2024

Handbag Market Size in Western Africa

After two years of growth, the West African handbag market decreased by X% to $X in 2022. Over the period under review, consumption, however, continues to indicate a perceptible contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Handbag Production in Western Africa

In value terms, handbag production reduced modestly to $X in 2022 estimated in export price. In general, production, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. The level of production peaked at $X in 2013; however, from 2014 to 2022, production remained at a lower figure.

Handbag Exports

Exports in Western Africa

In 2022, handbag exports in Western Africa declined to X units, waning by X% on 2021. In general, exports continue to indicate a perceptible shrinkage. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X units in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, handbag exports contracted significantly to $X in 2022. Overall, exports saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Ghana was the largest exporter of handbags in Western Africa, with the volume of exports accounting for X units, which was near X% of total exports in 2022. Mali (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Burkina Faso (X%), Cote d'Ivoire (X%) and Senegal (X%). Liberia (X units) and Sierra Leone (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to handbag exports from Ghana stood at X%. At the same time, Liberia (X%), Mali (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Liberia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Burkina Faso (X%), Cote d'Ivoire (X%) and Senegal (X%) illustrated a downward trend over the same period. Ghana (X p.p.), Mali (X p.p.), Liberia (X p.p.) and Sierra Leone (X p.p.) significantly strengthened its position in terms of the total exports, while Cote d'Ivoire, Burkina Faso and Senegal saw its share reduced by X%, X% and X% from 2012 to 2022, respectively.

In value terms, Ghana ($X) remains the largest handbag supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Cote d'Ivoire, with a X% share.

In Ghana, handbag exports increased at an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Mali (X% per year) and Cote d'Ivoire (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per unit, declining by X% against the previous year. Export price indicated a pronounced expansion 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, handbag export price increased by X% against 2020 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2019 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Liberia ($X per unit), while Burkina Faso ($X per unit) was amongst the lowest.

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

Handbag Imports

Imports in Western Africa

After two years of growth, supplies from abroad of handbags decreased by X% to X units in 2022. Overall, imports, however, showed a temperate increase. The pace of growth appeared the most rapid in 2021 when imports increased by X%. As a result, imports attained the peak of X units, and then declined sharply in the following year.

In value terms, handbag imports shrank to $X in 2022. In general, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. As a result, imports attained the peak of $X, and then fell in the following year.

Imports by Country

In 2022, Guinea (X units) represented the largest importer of handbags, committing X% of total imports. Burkina Faso (X units) held the second position in the ranking, followed by Cote d'Ivoire (X units), Liberia (X units), Senegal (X units) and Mauritania (X units). All these countries together took approx. X% share of total imports. Sierra Leone (X units) took a relatively small share of total imports.

Imports into Guinea increased at an average annual rate of X% from 2012 to 2022. At the same time, Mauritania (X%), Burkina Faso (X%), Sierra Leone (X%), Liberia (X%), Cote d'Ivoire (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Mauritania emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. While the share of Guinea (X p.p.), Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.), Liberia (X p.p.), Mauritania (X p.p.), Sierra Leone (X p.p.) and Senegal (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

In terms of the main importing countries, Sierra Leone, 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

In 2022, the import price in Western Africa amounted to $X per unit, with an increase of X% against the previous year. Import price indicated a temperate 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, handbag import price decreased by X% against 2019 indices. The most prominent rate of growth was recorded in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2019; however, from 2020 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 ($X per unit), while Guinea ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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