ECOWAS: Apricot Market 2025

Apricot Market Size in ECOWAS

The ECOWAS apricot market was estimated at $X in 2022, approximately reflecting the previous year. In general, consumption continues to indicate a measured expansion. Over the period under review, the market attained the peak level at $X in 2020; afterwards, it flattened through to 2022.

Apricot Production in ECOWAS

In value terms, apricot production expanded to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +2.0% over the period from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2020 when the production volume increased by 9.3%. As a result, production reached the peak level of $X; afterwards, it flattened through to 2022.

The countries with the highest volumes of production in 2022 were Benin (X tons), Burkina Faso (X tons) and Guinea-Bissau (X tons), together comprising 100% of total production.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +2.3%), while production for the other leaders experienced more modest paces of growth.

Apricot Exports

Exports in ECOWAS

In 2022, after five years of decline, there was significant growth in overseas shipments of apricots, when their volume increased by 889% to X kg. In general, exports continue to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2016 when exports increased by 198,047%. As a result, the exports reached the peak of X tons. From 2017 to 2022, the growth of the exports remained at a lower figure.

In value terms, apricot exports surged to $X in 2022. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2016 when exports increased by 346,757%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

In 2022, Cote d'Ivoire (X kg) was the key exporter of apricots, making up 82% of total exports. It was distantly followed by Nigeria (X kg), making up a 15% share of total exports. Senegal (X kg) held a relatively small share of total exports.

Exports from Cote d'Ivoire decreased at an average annual rate of -25.7% from 2012 to 2022. At the same time, Senegal (+6.5%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +6.5% from 2012-2022. By contrast, Nigeria (-8.3%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+82 p.p.) and Senegal (+3.4 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Nigeria (-56.9 p.p.) displayed negative dynamics.

In value terms, Cote d'Ivoire ($X) emerged as the largest apricot supplier in ECOWAS, comprising 90% of total exports. The second position in the ranking was taken by Senegal ($X), with a 7.2% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at -13.6%. The remaining exporting countries recorded the following average annual rates of exports growth: Senegal (+26.8% per year) and Nigeria (-13.1% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, picking up by 243% against the previous year. Overall, the export price saw a buoyant increase. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 (+19.0%), while the other leaders experienced mixed trends in the export price figures.

Apricot Imports

Imports in ECOWAS

In 2022, the amount of apricots imported in ECOWAS contracted to X tons, reducing by -11.2% compared with the previous year's figure. Over the period under review, imports, however, posted prominent growth. The pace of growth was the most pronounced in 2018 when imports increased by 197% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a lower figure.

In value terms, apricot imports reduced to $X in 2022. In general, imports, however, saw a strong expansion. The most prominent rate of growth was recorded in 2018 with an increase of 202%. As a result, imports attained the peak of $X. From 2019 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The purchases of the three major importers of apricots, namely Cote d'Ivoire, Cabo Verde and Senegal, represented more than two-thirds of total import. Burkina Faso (X tons) held a 13% share (based on physical terms) of total imports, which put it in second place, followed by Mali (11%) and Ghana (4.5%). Guinea (X kg) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +76.7%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Cote d'Ivoire ($X), Cabo Verde ($X) and Senegal ($X) appeared to be the countries with the highest levels of imports in 2022, together comprising 73% of total imports. Ghana, Burkina Faso, Mali and Guinea lagged somewhat behind, together accounting for a further 19%.

Burkina Faso, with a CAGR of +66.4%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in ECOWAS stood at $X per ton in 2022, increasing by 2.1% against the previous year. Overall, the import price, however, continues to indicate a slight downturn. The most prominent rate of growth was recorded in 2013 when the import price increased by 25%. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the 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 Cote d'Ivoire ($X per ton), while Senegal ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Guinea (+5.7%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform