ECOWAS: Frozen Freshwater Fish Market 2024

Frozen Freshwater Fish Market Size in ECOWAS

The ECOWAS frozen freshwater fish market soared to $X in 2022, picking up by X% against the previous year. The total consumption indicated a measured 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 increased by X% against 2019 indices. Over the period under review, the market reached the peak level in 2022 and is expected to retain growth in the near future.

Frozen Freshwater Fish Production in ECOWAS

In value terms, frozen freshwater fish production fell modestly to $X in 2022 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Frozen Freshwater Fish Exports

Exports in ECOWAS

In 2022, the amount of frozen freshwater fish exported in ECOWAS amounted to X tons, rising by X% against the year before. Over the period under review, exports saw a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen freshwater fish exports shrank to $X in 2022. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Senegal dominates exports structure, accounting for X tons, which was approx. X% of total exports in 2022. Guinea-Bissau (X tons) held the second position in the ranking, followed by Guinea (X tons). All these countries together held approx. X% share of total exports. The following exporters - Cote d'Ivoire (X tons) and Gambia (X tons) - each accounted for a X% share of total exports.

Senegal was also the fastest-growing in terms of the frozen freshwater fish exports, with a CAGR of X% from 2012 to 2022. At the same time, Guinea-Bissau (X%), Gambia (X%), Cote d'Ivoire (X%) and Guinea (X%) displayed positive paces of growth. While the share of Senegal (X p.p.), Guinea-Bissau (X p.p.) and Cote d'Ivoire (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Guinea (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) remains the largest frozen freshwater fish supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Guinea ($X), with a X% share of total exports. It was followed by Guinea-Bissau, with a X% share.

In Senegal, frozen freshwater fish exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Guinea (X% per year) and Guinea-Bissau (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, which is down by X% against the previous year. Over the period under review, the export price continues to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2014 when the export price increased by X% against the previous year. As a result, the export price reached 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 Guinea ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

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

Frozen Freshwater Fish Imports

Imports in ECOWAS

Frozen freshwater fish imports skyrocketed to X tons in 2022, with an increase of X% compared with the year before. In general, imports enjoyed buoyant growth. The growth pace was the most rapid in 2015 when imports increased by X% against the previous year. Over the period under review, imports hit record highs in 2022 and are likely to continue growth in the immediate term.

In value terms, frozen freshwater fish imports skyrocketed to $X in 2022. Overall, imports recorded a strong expansion. The most prominent rate of growth was recorded in 2015 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

Imports by Country

Cote d'Ivoire was the main importing country with an import of around X tons, which amounted to X% of total imports. Senegal (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Mali (X%), Guinea (X%) and Burkina Faso (X%). The following importers - Benin (X tons) and Ghana (X tons) - each amounted to an X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to frozen freshwater fish imports into Cote d'Ivoire stood at X%. At the same time, Senegal (X%), Burkina Faso (X%), Guinea (X%), Benin (X%) and Ghana (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Mali (X%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Cote d'Ivoire, Senegal, Burkina Faso, Guinea and Benin increased by X, X, X, X and X percentage points, respectively.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported frozen freshwater fish in ECOWAS, comprising X% of total imports. The second position in the ranking was taken by Senegal ($X), with a X% share of total imports. It was followed by Mali, with an X% share.

From 2012 to 2022, the average annual growth rate of value in Cote d'Ivoire amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Senegal (X% per year) and Mali (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, declining by X% against the previous year. Import price indicated buoyant growth from 2012 to 2022: its price 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. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, import prices attained the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Ghana ($X per ton), while Burkina Faso ($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 more modest paces of growth.

Source: IndexBox Platform

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