Western Africa: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in Western Africa

In 2022, the West African jute and jute-like fibers market decreased by X% to $X, falling for the second year in a row after two years of growth. Overall, consumption continues to indicate a abrupt decline. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Production of Jute And Jute-Like Fibers in Western Africa

In value terms, jute and jute-like fibers production amounted to $X in 2022 estimated in export price. The total production indicated tangible growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

The country with the largest volume of jute and jute-like fibers production was Liberia (X tons), comprising approx. X% of total volume. Moreover, jute and jute-like fibers production in Liberia exceeded the figures recorded by the second-largest producer, Sierra Leone (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume in Liberia totaled X%.

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Exports of Jute And Jute-Like Fibers

Exports in Western Africa

In 2022, approx. X tons of jute and jute-like fibers were exported in Western Africa; picking up by X% on the year before. Over the period under review, exports, however, recorded a pronounced curtailment. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. As a result, the exports reached the peak of X tons. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jute and jute-like fibers exports soared to $X in 2022. Overall, exports, however, showed a pronounced shrinkage. The most prominent rate of growth was recorded in 2018 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Togo was the key exporting country with an export of about X tons, which reached X% of total exports. Gambia (X tons) ranks second in terms of the total exports with a X% share, followed by Mali (X%). Liberia (X tons), Nigeria (X tons) and Senegal (X tons) took a little share of total exports.

Exports from Togo increased at an average annual rate of X% from 2012 to 2022. At the same time, Gambia (X%), Nigeria (X%) and Senegal (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Liberia experienced a relatively flat trend pattern. By contrast, Mali (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Togo, Gambia, Liberia and Nigeria increased by X, X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest jute and jute-like fibers supplier in Western Africa, comprising X% of total exports. The second position in the ranking was taken by Mali ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

In Togo, jute and jute-like fibers exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Mali (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with an increase of X% against the previous year. In general, the export price, however, continues to indicate a noticeable slump. The pace of growth was the most pronounced in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 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 Mali ($X per ton), while Gambia ($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 a decline in the export price figures.

Imports of Jute And Jute-Like Fibers

Imports in Western Africa

In 2022, overseas purchases of jute and jute-like fibers decreased by X% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports recorded a drastic downturn. The pace of growth appeared the most rapid in 2020 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, jute and jute-like fibers imports shrank slightly to $X in 2022. Overall, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Cote d'Ivoire represented the main importer of jute and jute-like fibers in Western Africa, with the volume of imports resulting at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Nigeria (X tons), Ghana (X tons) and Senegal (X tons), together making up a X% share of total imports. Togo (X tons), Mauritania (X tons) and Niger (X tons) followed a long way behind the leaders.

Imports into Cote d'Ivoire decreased at an average annual rate of X% from 2012 to 2022. At the same time, Niger (X%), Senegal (X%) and Togo (X%) displayed positive paces of growth. Moreover, Niger emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Nigeria and Mauritania experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.), Senegal (X p.p.), Togo (X p.p.), Ghana (X p.p.) and Niger (X p.p.) significantly strengthened its position in terms of the total imports, while Cote d'Ivoire saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Togo, Senegal, Mauritania and Niger lagged somewhat behind, together comprising a further X%.

Niger, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main importing countries 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 ton, picking up by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2015 when the import price increased by X%. Over the period under review, import prices attained the maximum at $X per ton in 2016; however, from 2017 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 Nigeria ($X per ton), while Niger ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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