ECOWAS: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in ECOWAS

The ECOWAS dried or salted fish market was finally on the rise to reach $X in 2022, after four years of decline. Overall, consumption saw a deep setback. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Production of Dried Or Salted Fish in ECOWAS

In value terms, dried or salted fish production dropped to $X in 2022 estimated in export price. In general, production continues to indicate a slight reduction. The pace of growth was the most pronounced in 2017 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Dried Or Salted Fish

Exports in ECOWAS

In 2022, the amount of dried or salted fish exported in ECOWAS shrank notably to X tons, reducing by X% compared with the year before. In general, exports faced a abrupt contraction. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. The volume of export peaked at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, dried or salted fish exports contracted to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The pace of growth appeared the most rapid in 2020 when exports increased by X%. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Senegal prevails in exports structure, resulting at X tons, which was approx. X% of total exports in 2022. Gambia (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Ghana (X%). The following exporters - Guinea (X tons) and Sierra Leone (X tons) - together made up X% of total exports.

Exports from Senegal decreased at an average annual rate of X% from 2012 to 2022. At the same time, Ghana (X%), Sierra Leone (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Ghana emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. Gambia experienced a relatively flat trend pattern. From 2012 to 2022, the share of Senegal, Ghana, Gambia, Guinea and Sierra Leone increased by X, X, X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest dried or salted fish supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Ghana ($X), with a X% share of total exports. It was followed by Gambia, with a X% share.

In Senegal, dried or salted fish exports declined by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Ghana (X% per year) and Gambia (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, rising by X% against the previous year. In general, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X% against the previous year. Over the period under review, the export prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Guinea ($X per ton) was amongst the lowest.

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

Imports of Dried Or Salted Fish

Imports in ECOWAS

In 2022, purchases abroad of dried or salted fish decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports faced a sharp shrinkage. The most prominent rate of growth was recorded in 2020 with an increase of X%. The volume of import peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, dried or salted fish imports dropped to $X in 2022. Over the period under review, imports faced a sharp curtailment. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Togo (X tons), distantly followed by Ghana (X tons), Nigeria (X tons) and Mali (X tons) represented the largest importers of dried or salted fish, together generating X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Mali (with a CAGR of X%), while purchases for the other leaders experienced mixed trends in the imports figures.

In value terms, Nigeria ($X), Togo ($X) and Ghana ($X) constituted the countries with the highest levels of imports in 2022, together accounting for X% of total imports.

In terms of the main importing countries, Togo, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, reducing by X% against the previous year. Over the period under review, the import price faced a abrupt slump. The most prominent rate of growth was recorded in 2020 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

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 Nigeria ($X per ton), while Ghana ($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 a decline in the import price figures.

Source: IndexBox Platform

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