ECOWAS: Fish Parts Market 2024

Fish Parts Market Size in ECOWAS

In 2022, the ECOWAS fish parts market increased by X% to $X, rising for the third year in a row after two years of decline. Overall, consumption recorded a buoyant expansion. The level of consumption peaked in 2022 and is expected to retain growth in years to come.

Fish Parts Production in ECOWAS

In value terms, fish parts production reduced modestly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2015 when the production volume increased by X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Fish Parts Exports

Exports in ECOWAS

In 2022, overseas shipments of fish heads, tails and maws were finally on the rise to reach X tons after two years of decline. Over the period under review, exports enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2017 when exports increased by X%. As a result, the exports reached the peak of X tons. From 2018 to 2022, the growth of the exports failed to regain momentum.

In value terms, fish parts exports soared to $X in 2022. Overall, exports, however, recorded a noticeable descent. The pace of growth appeared the most rapid in 2017 with an increase of X%. Over the period under review, the exports attained the peak figure at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, Senegal (X tons) was the major exporter of fish heads, tails and maws, constituting X% of total exports. Guinea (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Sierra Leone (X%), Nigeria (X%) and Togo (X%). The following exporters - Ghana (X tons) and Liberia (X tons) - each finished at a X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to fish parts exports from Senegal stood at X%. At the same time, Nigeria (X%), Liberia (X%) and Sierra Leone (X%) displayed positive paces of growth. Moreover, Nigeria emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%), Guinea (X%) and Togo (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Senegal, Nigeria, Sierra Leone and Liberia increased by X, X, X and X percentage points, respectively.

In value terms, the largest fish parts supplying countries in ECOWAS were Nigeria ($X), Togo ($X) and Guinea ($X), with a combined X% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2014 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2015 to 2022, the export prices failed to regain momentum.

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 Nigeria ($X per ton), while Senegal ($X per ton) 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.

Fish Parts Imports

Imports in ECOWAS

Fish parts imports stood at X tons in 2022, with an increase of X% against the previous year's figure. In general, imports posted a significant increase. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, fish parts imports soared to $X in 2022. Overall, imports saw a significant expansion. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are expected to retain growth in the near future.

Imports by Country

The countries with the highest levels of fish parts imports in 2022 were Nigeria (X tons), together accounting for X% of total import.

Nigeria was also the fastest-growing in terms of the fish heads, tails and maws imports, with a CAGR of X% from 2012 to 2022. Nigeria (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported fish heads, tails and maws in ECOWAS.

In Nigeria, fish parts imports expanded at an average annual rate of X% over the period from 2012-2022.

Import Prices by Country

In 2022, the import price in ECOWAS amounted to $X per ton, increasing by X% against the previous year. Over the period under review, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 an increase of X%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Nigeria.

From 2012 to 2022, the rate of growth in terms of prices for Nigeria amounted to X% per year.

Source: IndexBox Platform

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