Western Africa: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Western Africa

In 2021, the West African dried or smoked fish market decreased by -0.5% to $X for the first time since 2017, thus ending a three-year rising trend. The market value increased at an average annual rate of +1.2% from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a lower figure.

Production of Dried Or Smoked Fish in Western Africa

In value terms, dried or smoked fish production reached $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.2% from 2012 to 2021; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2014 when the production volume increased by 20%. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Exports of Dried Or Smoked Fish

Exports in Western Africa

In 2021, dried or smoked fish exports in Western Africa amounted to X tons, almost unchanged from 2020. In general, exports, however, saw a pronounced curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 78% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2021, the growth of the exports failed to regain momentum.

In value terms, dried or smoked fish exports shrank to $X in 2021. Over the period under review, exports, however, saw a abrupt curtailment. The pace of growth was the most pronounced in 2014 when exports increased by 77%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

In 2021, Ghana (X tons), distantly followed by Senegal (X tons), Guinea (X tons), Sierra Leone (X tons) and Nigeria (X tons) represented the major exporters of dried or smoked fish, together creating 87% of total exports. The following exporters - Gambia (X tons) and Mauritania (X tons) - each recorded a 7.9% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Nigeria (with a CAGR of +38.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Ghana ($X), Nigeria ($X) and Senegal ($X) appeared to be the countries with the highest levels of exports in 2021, with a combined 59% share of total exports.

In terms of the main exporting countries, Nigeria, with a CAGR of +29.4%, recorded the highest rates of growth with regard to 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 2021, the export price in Western Africa amounted to $X per ton, with a decrease of -11% against the previous year. Overall, the export price saw a perceptible downturn. The pace of growth was the most pronounced in 2016 when the export price increased by 43% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2017 to 2021, the export prices remained at a somewhat lower figure.

Prices varied noticeably country of origin: the country with the highest price was Nigeria ($X per ton), while Ghana ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Mauritania (+13.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Dried Or Smoked Fish

Imports in Western Africa

In 2021, approx. X tons of dried or smoked fish were imported in Western Africa; which is down by -10.5% against 2020. Over the period under review, imports continue to indicate a slight decline. The pace of growth appeared the most rapid in 2020 with an increase of 51% against the previous year. Over the period under review, imports attained the peak figure at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports declined to $X in 2021. Overall, imports showed a perceptible contraction. The growth pace was the most rapid in 2020 when imports increased by 92%. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Nigeria was the key importer of dried or smoked fish in Western Africa, with the volume of imports accounting for X tons, which was approx. 68% of total imports in 2021. It was distantly followed by Burkina Faso (X tons), committing a 28% share of total imports. Togo (X tons) held a relatively small share of total imports.

Nigeria experienced a relatively flat trend pattern with regard to volume of imports of dried or smoked fish. Togo (-1.4%) and Burkina Faso (-3.3%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Nigeria increased by +4.6 percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Nigeria ($X) constitutes the largest market for imported dried or smoked fish in Western Africa, comprising 96% of total imports. The second position in the ranking was held by Burkina Faso ($X), with a 0.6% share of total imports.

In Nigeria, dried or smoked fish imports declined by an average annual rate of -4.0% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Burkina Faso (-8.0% per year) and Togo (+7.3% per year).

Import Prices by Country

In 2021, the import price in Western Africa amounted to $X per ton, rising by 5.2% against the previous year. In general, the import price, however, showed a perceptible shrinkage. The most prominent rate of growth was recorded in 2014 when the import price increased by 62%. The level of import peaked at $X per ton in 2015; however, from 2016 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+8.8%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :