ECOWAS: Freshwater Fish Market 2024

Freshwater Fish Market Size in ECOWAS

For the third consecutive year, the ECOWAS freshwater fish market recorded decline in sales value, which decreased by X% to $X in 2022. Overall, consumption continues to indicate a mild decline. As a result, consumption attained the peak level of $X. From 2015 to 2022, the growth of the market remained at a lower figure.

Freshwater Fish Production in ECOWAS

In value terms, freshwater fish production shrank modestly 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 pace of growth was the most pronounced in 2018 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2019 to 2022, production growth remained at a lower figure.

Freshwater Fish Exports

Exports in ECOWAS

In 2022, the amount of freshwater fish exported in ECOWAS soared to X tons, surging by X% against 2021. Over the period under review, exports posted a modest increase. The pace of growth was the most pronounced in 2016 when exports increased by X%. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

In value terms, freshwater fish exports skyrocketed to $X in 2022. Overall, exports saw a remarkable increase. Over the period under review, the exports reached the peak figure at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Gambia prevails in exports structure, finishing at X tons, which was approx. X% of total exports in 2022. It was distantly followed by Nigeria (X tons), comprising an X% share of total exports. Guinea (X tons), Senegal (X tons) and Ghana (X tons) held a minor share of total exports.

Gambia experienced a relatively flat trend pattern with regard to volume of exports of freshwater fish. At the same time, Nigeria (X%), Guinea (X%), Senegal (X%) and Ghana (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. While the share of Nigeria (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Gambia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

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

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

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, surging by X% against the previous year. Export price indicated noticeable 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. Based on 2022 figures, freshwater fish export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Senegal ($X per ton), while Nigeria ($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 more modest paces of growth.

Freshwater Fish Imports

Imports in ECOWAS

In 2022, purchases abroad of freshwater fish decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports failed to regain momentum.

In value terms, freshwater fish imports declined rapidly to $X in 2022. In general, imports showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Nigeria represented the largest importing country with an import of about X tons, which finished at X% of total imports. Mali (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Senegal (X%), Liberia (X%), Togo (X%), Ghana (X%) and Burkina Faso (X%).

Imports into Nigeria decreased at an average annual rate of X% from 2012 to 2022. At the same time, Burkina Faso (X%), Liberia (X%) and Mali (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in ECOWAS, with a CAGR of X% from 2012-2022. By contrast, Ghana (X%), Senegal (X%) and Togo (X%) illustrated a downward trend over the same period. Mali (X p.p.), Liberia (X p.p.), Togo (X p.p.) and Burkina Faso (X p.p.) significantly strengthened its position in terms of the total imports, while Nigeria and Senegal saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Senegal ($X) constitutes the largest market for imported freshwater fish in ECOWAS, comprising X% of total imports. The second position in the ranking was held by Nigeria ($X), with a X% share of total imports. It was followed by Liberia, with a X% share.

In Senegal, freshwater fish imports plunged by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Nigeria (X% per year) and Liberia (X% per year).

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, recorded a deep downturn. The pace of growth appeared the most rapid in 2020 an increase of X%. The level of import peaked at $X per ton in 2016; however, from 2017 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 Senegal ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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