ECOWAS: Fertilizer Market 2025

Fertilizer Market Size in ECOWAS

In 2022, after two years of growth, there was significant decline in the ECOWAS fertilizer market, when its value decreased by X% to $X. Overall, consumption, however, showed a mild contraction. Over the period under review, the market attained the maximum level at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Fertilizer Production in ECOWAS

In value terms, fertilizer production stood at $X in 2022 estimated in export price. The total production indicated a temperate 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2020 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth failed to regain momentum.

Fertilizer Exports

Exports in ECOWAS

In 2022, overseas shipments of fertilizers increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, exports posted a significant increase. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to continue growth in years to come.

In value terms, fertilizer exports skyrocketed to $X in 2022. Overall, exports continue to indicate significant growth. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The level of export peaked in 2022 and is likely to continue growth in the immediate term.

Exports by Country

Nigeria prevails in exports structure, amounting to X tons, which was near X% of total exports in 2022. The following exporters - Cote d'Ivoire (X tons) and Mali (X tons) - together made up X% of total exports.

Nigeria was also the fastest-growing in terms of the fertilizers exports, with a CAGR of X% from 2012 to 2022. At the same time, Cote d'Ivoire (X%) displayed positive paces of growth. By contrast, Mali (X%) illustrated a downward trend over the same period. While the share of Nigeria (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Mali (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) remains the largest fertilizer supplier in ECOWAS, comprising X% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value in Nigeria amounted to X%. In the other countries, the average annual rates were as follows: Cote d'Ivoire (X% per year) and Mali (X% per year).

Export Prices by Country

The export price in ECOWAS stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price continues to indicate a modest increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Nigeria ($X per ton), while Mali ($X per ton) was amongst the lowest.

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

Fertilizer Imports

Imports in ECOWAS

In 2022, the amount of fertilizers imported in ECOWAS expanded sharply to X tons, growing by X% compared with the previous year's figure. Total imports indicated a moderate expansion 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 growth pace was the most rapid in 2016 with an increase of X%. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports remained at a lower figure.

In value terms, fertilizer imports skyrocketed to $X in 2022. Total imports indicated a temperate 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, imports increased by X% against 2018 indices. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

Ghana (X tons), Cote d'Ivoire (X tons) and Nigeria (X tons) represented roughly X% of total imports in 2022. Mali (X tons) ranks next in terms of the total imports with a X% share, followed by Burkina Faso (X%), Benin (X%), Senegal (X%) and Togo (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Togo (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Nigeria ($X), Cote d'Ivoire ($X) and Ghana ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Senegal, Benin, Mali, Burkina Faso and Togo lagged somewhat behind, together accounting for a further X%.

Togo, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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, jumping by X% against the previous year. Overall, the import price, however, saw a mild descent. Over the period under review, import prices attained the peak figure 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 Senegal ($X per ton), while Ghana ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform