ECOWAS: Market for Jute And Jute-Like Fibers 2024

Market Size for Jute And Jute-Like Fibers in ECOWAS

In 2022, the ECOWAS jute and jute-like fibers market decreased by X% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption recorded a deep reduction. 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 ECOWAS

In value terms, jute and jute-like fibers production rose to $X in 2022 estimated in export price. The total production 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Liberia (X tons) constituted the country with the largest volume of jute and jute-like fibers production, accounting for 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.

In Liberia, jute and jute-like fibers production expanded at an average annual rate of X% over the period from 2012-2022.

Exports of Jute And Jute-Like Fibers

Exports in ECOWAS

In 2022, the amount of jute and jute-like fibers exported in ECOWAS amounted to X tons, growing by X% against the previous year's figure. In general, exports, however, continue to indicate a perceptible decline. The pace of growth was the most pronounced in 2018 with an increase of X%. 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 skyrocketed to $X in 2022. Overall, exports, however, saw a noticeable shrinkage. The pace of growth appeared the most rapid in 2018 with an increase of 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

In 2022, Togo (X tons) was the key exporter of jute and jute-like fibers, constituting X% of total exports. Gambia (X tons) took the second position in the ranking, distantly followed by Mali (X tons). All these countries together held near X% share of total exports. Liberia (X tons), Nigeria (X tons) and Senegal (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to jute and jute-like fibers exports from Togo stood at X%. 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 ECOWAS, 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. While the share of Togo (X p.p.), Gambia (X p.p.), Liberia (X p.p.) and Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mali (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest jute and jute-like fibers supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was taken by Mali ($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. In the other countries, the average annual rates were as follows: Mali (X% per year) and Gambia (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the export price, however, recorded a pronounced reduction. The pace of growth was the most pronounced in 2017 an increase of X% against the previous year. 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 ECOWAS

In 2022, supplies from abroad 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 abrupt slump. The most prominent rate of growth was recorded in 2020 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, jute and jute-like fibers imports contracted modestly to $X in 2022. Overall, imports saw a abrupt setback. The most prominent rate of growth was recorded 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 was the key importer of jute and jute-like fibers in ECOWAS, with the volume of imports accounting for X tons, which was near X% of total imports in 2022. It was distantly followed by Nigeria (X tons), Ghana (X tons) and Senegal (X tons), together generating a X% share of total imports. Togo (X tons) and Niger (X tons) held a minor share of total imports.

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 ECOWAS, with a CAGR of X% from 2012-2022. Nigeria 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.

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

Niger, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among 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 ECOWAS amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, import prices hit record highs at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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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