ECOWAS: Market for Tanned or Dressed Furskins 2024

Market Size for Tanned or Dressed Furskins in ECOWAS

In 2023, the ECOWAS tanned or dressed furskins market decreased by X% to $X for the first time since 2020, thus ending a two-year rising trend. In general, consumption, however, recorded a relatively flat trend pattern. The level of consumption peaked at $X in 2015; however, from 2016 to 2023, consumption failed to regain momentum.

Production of Tanned or Dressed Furskins in ECOWAS

In value terms, tanned or dressed furskins production fell remarkably to $X in 2023 estimated in export price. In general, production recorded a pronounced reduction. The most prominent rate of growth was recorded in 2022 with an increase of X%. Over the period under review, production reached the maximum level at $X in 2016; however, from 2017 to 2023, production remained at a lower figure.

Exports of Tanned or Dressed Furskins

Exports in ECOWAS

In 2023, overseas shipments of tanned or dressed furskins decreased by X% to X units, falling for the second consecutive year after three years of growth. Overall, exports, however, posted a tangible increase. The most prominent rate of growth was recorded in 2016 when exports increased by X,237% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2023, the growth of the exports failed to regain momentum.

In value terms, tanned or dressed furskins exports reduced sharply to $X in 2023. In general, exports saw a deep contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2016; however, from 2017 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Senegal (X units) represented the main exporter of tanned or dressed furskins, achieving X% of total exports. It was distantly followed by Nigeria (X units), comprising an X% share of total exports.

Senegal was also the fastest-growing in terms of the tanned or dressed furskins exports, with a CAGR of X% from 2012 to 2023. Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal increased by X percentage points.

In value terms, Senegal ($X) remains the largest tanned or dressed furskins supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Nigeria ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Senegal stood at X%.

Export Prices by Country

In 2023, the export price in ECOWAS amounted to $X per unit, dropping by X% against the previous year. Over the period under review, the export price showed a abrupt slump. The most prominent rate of growth was recorded in 2017 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2023, the export prices stood at a somewhat lower figure.

Average prices varied noticeably amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while Senegal stood at $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Senegal (X%).

Imports of Tanned or Dressed Furskins

Imports in ECOWAS

Tanned or dressed furskins imports soared to X units in 2023, growing by X% compared with the previous year's figure. Over the period under review, imports saw a perceptible expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. Over the period under review, imports attained the peak figure at X units in 2015; however, from 2016 to 2023, imports failed to regain momentum.

In value terms, tanned or dressed furskins imports soared to $X in 2023. Overall, imports saw a remarkable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

Nigeria (X units) and Ghana (X units) were the main importers of tanned or dressed furskins in 2023, accounting for approx. X% and X% of total imports, respectively. It was distantly followed by Senegal (X units), achieving a X% share of total imports. Cote d'Ivoire (X units) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Nigeria (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X), Ghana ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2023, with a combined X% share of total imports.

Nigeria, with a CAGR of X%, recorded the highest growth rate of 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

The import price in ECOWAS stood at $X per unit in 2023, rising by X% against the previous year. Import price indicated a mild expansion from 2012 to 2023: its price increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, tanned or dressed furskins import price increased by X% against 2021 indices. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Cote d'Ivoire ($X per unit), while Senegal ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Cote d'Ivoire (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform