Western Africa: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Western Africa

The West African inedible fish products market fell to $X in 2022, waning by -5.3% against the previous year. Overall, consumption, however, saw a mild expansion. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Western Africa

In value terms, inedible fish products production contracted modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 with an increase of 40%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports in Western Africa

In 2022, after three years of growth, there was significant decline in shipments abroad of inedible fish products, when their volume decreased by -16% to X tons. In general, exports, however, showed a strong increase. The growth pace was the most rapid in 2019 with an increase of 260%. The volume of export peaked at X tons in 2021, and then dropped markedly in the following year.

In value terms, inedible fish products exports dropped to $X in 2022. Over the period under review, exports recorded a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of 193%. Over the period under review, the exports reached the peak figure at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

Cote d'Ivoire was the major exporter of inedible fish products in Western Africa, with the volume of exports finishing at X tons, which was near 78% of total exports in 2022. It was distantly followed by Senegal (X tons) and Ghana (X tons), together constituting a 20% share of total exports. Mauritania (X tons) held a little share of total exports.

Cote d'Ivoire was also the fastest-growing in terms of the inedible fish products exports, with a CAGR of +32.0% from 2012 to 2022. At the same time, Mauritania (+12.8%) and Senegal (+1.7%) displayed positive paces of growth. By contrast, Ghana (-5.3%) illustrated a downward trend over the same period. While the share of Cote d'Ivoire (+62 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Senegal (-21.3 p.p.) and Ghana (-35.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest inedible fish products supplying countries in Western Africa were Cote d'Ivoire ($X), Senegal ($X) and Ghana ($X), with a combined 97% share of total exports.

In terms of the main exporting countries, Cote d'Ivoire, with a CAGR of +23.6%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2022, picking up by 12% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The most prominent rate of growth was recorded in 2016 an increase of 59% against the previous year. Over the period under review, the export prices reached the maximum at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ghana (-0.8%), while the other leaders experienced a decline in the export price figures.

Inedible Fish Products Imports

Imports in Western Africa

In 2022, purchases abroad of inedible fish products increased by less than 0.1% to X tons for the first time since 2017, thus ending a four-year declining trend. Overall, imports, however, saw a deep contraction. The pace of growth was the most pronounced in 2017 when imports increased by 680%. The volume of import peaked at X tons in 2015; however, from 2016 to 2022, imports failed to regain momentum.

In value terms, inedible fish products imports reduced slightly to $X in 2022. In general, imports, however, saw a abrupt contraction. The growth pace was the most rapid in 2014 with an increase of 298% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Cote d'Ivoire represented the key importing country with an import of about X tons, which resulted at 48% of total imports. Ghana (X tons) held the second position in the ranking, distantly followed by Nigeria (X tons) and Mali (X tons). All these countries together held near 45% share of total imports. The following importers - Senegal (X tons) and Mauritania (X tons) - together made up 7.1% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Ghana (with a CAGR of +61.2%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, Cote d'Ivoire ($X) constitutes the largest market for imported inedible fish products in Western Africa, comprising 73% of total imports. The second position in the ranking was taken by Ghana ($X), with a 13% share of total imports. It was followed by Mali, with a 7.8% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Cote d'Ivoire stood at -1.9%. In the other countries, the average annual rates were as follows: Ghana (+66.7% per year) and Mali (+9.0% per year).

Import Prices by Country

In 2022, the import price in Western Africa amounted to $X per ton, approximately mirroring the previous year. In general, the import price, however, continues to indicate noticeable growth. The growth pace was the most rapid in 2016 when the import price increased by 206%. As a result, import price attained the peak level of $X per ton. From 2017 to 2022, the import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mali (+11.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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