ECOWAS: Fig Market 2025

Fig Market Size in ECOWAS

The ECOWAS fig market totaled $X in 2022, almost unchanged from the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +8.6% 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 -0.0% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2018; afterwards, it flattened through to 2022.

Fig Production in ECOWAS

In value terms, fig production fell to $X in 2022 estimated in export price. The total output value increased at an average annual rate of +4.0% 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 when the production volume increased by 28% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

The countries with the highest volumes of production in 2022 were Burkina Faso (X tons), Sierra Leone (X tons) and Benin (X tons), together comprising 82% of total production.

From 2012 to 2022, the biggest increases were recorded for Burkina Faso (with a CAGR of +2.5%), while production for the other leaders experienced more modest paces of growth.

Fig Exports

Exports in ECOWAS

In 2022, approx. X tons of figs were exported in ECOWAS; picking up by 234% compared with 2021 figures. Over the period under review, exports recorded prominent growth. The pace of growth was the most pronounced in 2014 when exports increased by 1,347%. The volume of export peaked in 2022 and is likely to continue growth in years to come.

In value terms, fig exports surged to $X in 2022. In general, exports enjoyed a significant increase. The growth pace was the most rapid in 2014 with an increase of 727% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see steady growth in the immediate term.

Exports by Country

Burkina Faso represented the major exporting country with an export of around X tons, which recorded 70% of total exports. Cote d'Ivoire (X tons) took a 24% share (based on physical terms) of total exports, which put it in second place, followed by Senegal (5.6%).

Burkina Faso experienced a relatively flat trend pattern with regard to volume of exports of figs. At the same time, Cote d'Ivoire (+49.5%) and Senegal (+22.3%) displayed positive paces of growth. Moreover, Cote d'Ivoire emerged as the fastest-growing exporter exported in ECOWAS, with a CAGR of +49.5% from 2012-2022. While the share of Burkina Faso (+70 p.p.), Cote d'Ivoire (+23 p.p.) and Senegal (+3.9 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Burkina Faso ($X) emerged as the largest fig supplier in ECOWAS, comprising 88% of total exports. The second position in the ranking was held by Cote d'Ivoire ($X), with a 6.9% share of total exports.

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 (+48.2% per year) and Senegal (+27.9% per year).

Export Prices by Country

In 2022, the export price in ECOWAS amounted to $X per ton, growing by 147% against the previous year. In general, the export price showed significant growth. The most prominent rate of growth was recorded in 2013 when the export price increased by 334%. The level of export peaked in 2022 and is likely to continue growth in the near future.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Senegal (+4.6%).

Fig Imports

Imports in ECOWAS

For the seventh consecutive year, ECOWAS recorded growth in overseas purchases of figs, which increased by 7.2% to X tons in 2022. Over the period under review, imports continue to indicate a resilient expansion. The growth pace was the most rapid in 2017 with an increase of 63%. The volume of import peaked in 2022 and is expected to retain growth in years to come.

In value terms, fig imports fell slightly to $X in 2022. Overall, imports enjoyed tangible growth. The pace of growth was the most pronounced in 2017 when imports increased by 59%. Over the period under review, imports hit record highs at $X in 2021, and then shrank modestly in the following year.

Imports by Country

Cabo Verde (X tons) and Cote d'Ivoire (X tons) dominates imports structure, together comprising 70% of total imports. It was distantly followed by Ghana (X tons), Nigeria (X tons), Togo (X tons) and Senegal (X tons), together mixing up a 23% share of total imports. Benin (X kg) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Togo (with a CAGR of +64.8%), 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) were the countries with the highest levels of imports in 2022, with a combined 83% share of total imports. Nigeria, Ghana, Benin and Togo lagged somewhat behind, together comprising a further 10%.

Among the main importing countries, Togo, with a CAGR of +30.6%, 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 -7.4% against the previous year. In general, the import price recorded a perceptible decline. The most prominent rate of growth was recorded in 2018 an increase of 7.1%. Over the period under review, import prices attained the maximum at $X per ton in 2012; however, from 2013 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 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 (-0.5%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform