Western Africa: Leather Market 2024

Leather Market Size in Western Africa

In 2022, the West African leather market decreased by X% to $X, falling for the third year in a row after three years of growth. The total consumption indicated a tangible increase 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, consumption decreased by X% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Leather Production in Western Africa

In value terms, leather production dropped to $X in 2022 estimated in export price. Over the period under review, production continues to indicate a noticeable descent. The pace of growth was the most pronounced in 2013 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2014 to 2022, production growth failed to regain momentum.

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Leather Exports

Exports in Western Africa

In 2022, the amount of leather exported in Western Africa plummeted to X square meters, waning by X% compared with the year before. Overall, exports faced a abrupt slump. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. The volume of export peaked at X square meters in 2013; however, from 2014 to 2022, the exports stood at a somewhat lower figure.

In value terms, leather exports fell modestly to $X in 2022. In general, exports recorded a sharp descent. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Nigeria prevails in exports structure, finishing at X square meters, which was near X% of total exports in 2022. Mali (X square meters) ranks second in terms of the total exports with a X% share, followed by Senegal (X%). The following exporters - Cote d'Ivoire (X square meters) and Burkina Faso (X square meters) - each finished at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to leather exports from Nigeria stood at X%. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Burkina Faso experienced a relatively flat trend pattern. By contrast, Senegal (X%) and Mali (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Mali, Senegal and Cote d'Ivoire increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest leather supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Burkina Faso ($X), with a X% share of total exports. It was followed by Mali, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Burkina Faso (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per square meter in 2022, increasing by X% against the previous year. Overall, the export price, however, recorded a perceptible decline. The level of export peaked at $X per square meter in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

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

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

Leather Imports

Imports in Western Africa

In 2022, overseas purchases of leather decreased by X% to X square meters, falling for the second consecutive year after five years of growth. Overall, imports, however, recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the maximum at X square meters in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, leather imports surged to $X in 2022. Over the period under review, imports recorded a mild decline. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Nigeria dominates imports structure, resulting at X square meters, which was near X% of total imports in 2022. It was distantly followed by Ghana (X square meters), comprising a X% share of total imports. Senegal (X square meters) and Togo (X square meters) held a minor share of total imports.

Imports into Nigeria increased at an average annual rate of X% from 2012 to 2022. At the same time, Togo (X%) displayed positive paces of growth. Moreover, Togo emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. Senegal experienced a relatively flat trend pattern. By contrast, Ghana (X%) illustrated a downward trend over the same period. Nigeria (X p.p.) and Togo (X p.p.) significantly strengthened its position in terms of the total imports, while Ghana 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, Nigeria ($X) constitutes the largest market for imported leather in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Ghana ($X), with a X% share of total imports. It was followed by Togo, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Nigeria stood at X%. The remaining importing countries recorded the following average annual rates of imports growth: Ghana (X% per year) and Togo (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per square meter in 2022, picking up by X% against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth appeared the most rapid in 2013 when the import price increased by X% against the previous year. As a result, import price attained the peak level of $X per square meter. From 2014 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 Togo ($X per square meter), while Senegal ($X per square meter) was amongst the lowest.

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

Source: IndexBox Platform

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