ECOWAS: Fig Market 2024

Fig Market Size in ECOWAS

After two years of growth, the ECOWAS fig market decreased by X% to $X in 2022. The total consumption indicated resilient growth 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 2018 indices. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Fig Production in ECOWAS

In value terms, fig production fell slightly to $X in 2022 estimated in export price. The total output value increased at an average annual rate of X% over the period 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 2013 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

The countries with the highest volumes of production in 2022 were Burkina Faso (X tons), Sierra Leone (X tons) and Benin (X tons), with a combined X% share of total production.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of X%), while production for the other leaders experienced more modest paces of growth.

Fig Exports

Exports in ECOWAS

In 2022, the amount of figs exported in ECOWAS soared to X tons, jumping by X% on 2021. Over the period under review, exports continue to indicate a strong increase. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the near future.

In value terms, fig exports surged to $X in 2022. Overall, exports posted a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Burkina Faso represented the main exporting country with an export of around X tons, which finished at X% of total exports. Cote d'Ivoire (X tons) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (X%). Ghana (X kg) followed a long way behind the leaders.

Burkina Faso experienced a relatively flat trend pattern with regard to volume of exports of figs. At the same time, Ghana (X%), Cote d'Ivoire (X%) and Senegal (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. While the share of Burkina Faso (X p.p.), Cote d'Ivoire (X p.p.), Senegal (X p.p.) and Ghana (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest fig supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

In Burkina Faso, fig exports remained relatively stable over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Cote d'Ivoire (X% per year) and Ghana (X% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by X% against the previous year. Overall, the export price saw a significant expansion. The most prominent rate of growth was recorded in 2013 an increase of X%. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Ghana ($X per ton), while Cote d'Ivoire ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (X%), while the other leaders experienced mixed trends in the export price figures.

Fig Imports

Imports in ECOWAS

For the seventh year in a row, ECOWAS recorded growth in supplies from abroad of figs, which increased by X% to X tons in 2022. In general, imports continue to indicate a resilient expansion. The most prominent rate of growth was recorded in 2017 when imports increased by X%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, fig imports declined to $X in 2022. Over the period under review, imports showed tangible growth. The pace of growth was the most pronounced in 2017 when imports increased by X%. The level of import peaked at $X in 2021, and then declined slightly in the following year.

Imports by Country

Cabo Verde (X tons) and Cote d'Ivoire (X tons) prevails in imports structure, together creating X% of total imports. Ghana (X tons) ranks next in terms of the total imports with a X% share, followed by Nigeria (X%), Togo (X%) and Senegal (X%). Benin (X kg) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cabo Verde ($X), Cote d'Ivoire ($X) and Senegal ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports. Nigeria, Ghana, Benin and Togo lagged somewhat behind, together comprising a further X%.

In terms of the main importing countries, Togo, with a CAGR of X%, recorded 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 ECOWAS amounted to $X per ton, which is down by X% against the previous year. Overall, the import price saw a perceptible contraction. The growth pace was the most rapid in 2018 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2012; however, from 2013 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 Cabo Verde ($X per ton), while Togo ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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