Western Africa: Frozen Fish Market 2024

Frozen Fish Market Size in Western Africa

The West African frozen fish market contracted slightly to $X in 2022, shrinking by X% against the previous year. The total consumption indicated a modest expansion 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 decreased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market remained at a lower figure.

Frozen Fish Production in Western Africa

In value terms, frozen fish production expanded to $X in 2022 estimated in export price. Over the period under review, production recorded a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. Over the period under review, production attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Frozen Fish Exports

Exports in Western Africa

In 2022, overseas shipments of frozen fish were finally on the rise to reach X tons for the first time since 2019, thus ending a two-year declining trend. Total exports indicated a resilient increase from 2012 to 2022: its volume 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, exports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports expanded slightly to $X in 2022. Total exports indicated a prominent 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, exports decreased by X% against 2019 indices. The growth pace was the most rapid in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Mauritania was the largest exporter of frozen fish in Western Africa, with the volume of exports reaching X tons, which was approx. X% of total exports in 2022. It was distantly followed by Senegal (X tons), constituting a X% share of total exports. Guinea-Bissau (X tons) and Ghana (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by Guinea-Bissau (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the largest frozen fish supplying countries in Western Africa were Mauritania ($X), Senegal ($X) and Ghana ($X), together accounting for X% of total exports. Guinea-Bissau lagged somewhat behind, accounting for a further X%.

Guinea-Bissau, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries 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 Western Africa amounted to $X per ton, falling by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2013 an increase of X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 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 Ghana ($X per ton), while Mauritania ($X per ton) was amongst the lowest.

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

Frozen Fish Imports

Imports in Western Africa

In 2022, the amount of frozen fish imported in Western Africa declined to X tons, dropping by X% against 2021. Total imports indicated a pronounced increase from 2012 to 2022: its volume 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, imports decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X%. Over the period under review, imports attained the maximum at X tons in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports shrank slightly to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when imports increased by X%. The level of import peaked at $X in 2021, and then contracted in the following year.

Imports by Country

In 2022, Cote d'Ivoire (X tons) was the major importer of frozen fish, committing X% of total imports. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Ghana (X%), Burkina Faso (X%), Benin (X%) and Mali (X%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to frozen fish imports into Cote d'Ivoire stood at X%. At the same time, Benin (X%), Mali (X%), Burkina Faso (X%), Ghana (X%) and Togo (X%) displayed positive paces of growth. Moreover, Benin emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2022. By contrast, Nigeria (X%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (X p.p.), Burkina Faso (X p.p.), Benin (X p.p.) and Mali (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Nigeria (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen fish importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), with a combined X% share of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together accounting for a further X%.

Among the main importing countries, Mali, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 Western Africa amounted to $X per ton, remaining relatively unchanged against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible decrease. The most prominent rate of growth was recorded in 2020 an increase of X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 ($X per ton), while Burkina Faso ($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 mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :