Western Africa: Biological Product Market 2024

Biological Product Exports

Exports in Western Africa

Biological product exports soared to X tons in 2022, picking up by X% against the previous year. Over the period under review, exports enjoyed significant growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. Over the period under review, the exports attained the maximum in 2022 and are likely to see steady growth in the near future.

In value terms, biological product exports dropped to $X in 2022. Overall, exports showed a notable increase. The most prominent rate of growth was recorded in 2013 when exports increased by X%. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

Cote d'Ivoire prevails in exports structure, amounting to X tons, which was approx. X% of total exports in 2022. It was distantly followed by Mali (X tons), Gambia (X tons), Senegal (X tons) and Ghana (X tons), together creating a X% share of total exports. Burkina Faso (X tons) and Nigeria (X tons) held a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to biological product exports from Cote d'Ivoire stood at X%. At the same time, Gambia (X%), Ghana (X%), Senegal (X%), Nigeria (X%), Burkina Faso (X%) and Mali (X%) displayed positive paces of growth. Moreover, Gambia emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2022. Cote d'Ivoire (X p.p.), Gambia (X p.p.) and Ghana (X p.p.) significantly strengthened its position in terms of the total exports, while Nigeria, Burkina Faso and Mali saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In terms of the main exporting countries, Gambia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the export price continues to indicate a deep slump. The pace of growth was the most pronounced in 2016 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2017 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, 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 Burkina Faso (X%), while the other leaders experienced more modest paces of growth.

Biological Product Imports

Imports in Western Africa

In 2022, purchases abroad of biological products decreased by X% to X tons, falling for the second consecutive year after three years of growth. In general, imports, however, enjoyed a resilient expansion. The pace of growth was the most pronounced in 2019 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2020; however, from 2021 to 2022, imports failed to regain momentum.

In value terms, biological product imports contracted significantly to $X in 2022. Overall, imports, however, recorded prominent growth. The most prominent rate of growth was recorded in 2019 with an increase of X% against the previous year. Over the period under review, imports attained the peak figure at $X in 2020; however, from 2021 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of biological products, namely Togo, Ghana and Nigeria, represented more than two-thirds of total import. It was distantly followed by Cote d'Ivoire (X tons), committing a X% share of total imports. The following importers - Sierra Leone (X tons), Mali (X tons) and Guinea (X tons) - together made up X% of total imports.

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

In value terms, Ghana ($X) constitutes the largest market for imported biological products in Western Africa, comprising X% of total imports. The second position in the ranking was taken by Nigeria ($X), with an X% share of total imports. It was followed by Cote d'Ivoire, with an X% share.

In Ghana, biological product imports 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: Nigeria (X% per year) and Cote d'Ivoire (X% per year).

Import Prices by Country

The import price in Western Africa stood at $X per ton in 2022, rising by X% against the previous year. Import price indicated mild 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, biological product import price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of X% against the previous year. The level of import peaked in 2022 and is likely to continue growth in the near future.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Guinea ($X per ton), while Togo ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :