Western Africa: Wine Market 2024

Wine Exports

Exports in Western Africa

For the third year in a row, Western Africa recorded growth in overseas shipments of wine, which increased by 3.4% to X litres in 2021. Over the period under review, exports saw a significant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 430% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, wine exports reached $X in 2021. Overall, exports continue to indicate significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 282% against the previous year. The level of export peaked in 2021 and is expected to retain growth in the immediate term.

Exports by Country

Togo dominates exports structure, recording X litres, which was approx. 96% of total exports in 2021. Ghana (X litres) followed a long way behind the leaders.

Togo was also the fastest-growing in terms of the wine exports, with a CAGR of +93.8% from 2012 to 2021. At the same time, Ghana (+41.8%) displayed positive paces of growth. From 2012 to 2021, the share of Togo increased by +88 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Togo ($X) remains the largest wine supplier in Western Africa, comprising 93% of total exports. The second position in the ranking was held by Ghana ($X), with a 1.7% share of total exports.

In Togo, wine exports expanded at an average annual rate of +58.5% over the period from 2012-2021.

Export Prices by Country

In 2021, the export price in Western Africa amounted to $X per litre, picking up by 9% against the previous year. Over the period under review, the export price, however, showed a deep setback. The pace of growth appeared the most rapid in 2015 an increase of 28% against the previous year. Over the period under review, the export prices reached the maximum at $X per litre in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Togo ($X per litre), while Ghana totaled $X per litre.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (-18.2%).

Wine Imports

Imports in Western Africa

In 2021, the amount of wine imported in Western Africa skyrocketed to X litres, picking up by 51% on 2020. Total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +101.5% against 2015 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, wine imports soared to $X in 2021. Total imports indicated a moderate increase from 2012 to 2021: its value increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +45.6% against 2017 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, Cote d'Ivoire (X litres) represented the major importer of wine, constituting 39% of total imports. Ghana (X litres) took the second position in the ranking, followed by Guinea-Bissau (X litres), Togo (X litres), Burkina Faso (X litres), Nigeria (X litres) and Cabo Verde (X litres). All these countries together held approx. 53% share of total imports.

Imports into Cote d'Ivoire increased at an average annual rate of +11.1% from 2012 to 2021. At the same time, Guinea-Bissau (+13.9%), Togo (+11.0%), Burkina Faso (+9.6%) and Cabo Verde (+8.2%) displayed positive paces of growth. Moreover, Guinea-Bissau emerged as the fastest-growing importer imported in Western Africa, with a CAGR of +13.9% from 2012-2021. Ghana experienced a relatively flat trend pattern. By contrast, Nigeria (-17.8%) illustrated a downward trend over the same period. Cote d'Ivoire (+20 p.p.), Guinea-Bissau (+7.5 p.p.), Togo (+5.2 p.p.), Burkina Faso (+3.1 p.p.) and Cabo Verde (+1.8 p.p.) significantly strengthened its position in terms of the total imports, while Ghana and Nigeria saw its share reduced by -2.3% and -33.1% from 2012 to 2021, respectively.

In value terms, the largest wine importing markets in Western Africa were Cote d'Ivoire ($X), Ghana ($X) and Guinea-Bissau ($X), with a combined 66% share of total imports. Nigeria, Togo, Cabo Verde and Burkina Faso lagged somewhat behind, together comprising a further 21%.

Among the main importing countries, Togo, with a CAGR of +17.8%, saw the highest rates of growth with regard to 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

The import price in Western Africa stood at $X per litre in 2021, growing by 5% against the previous year. In general, the import price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2014 when the import price increased by 12% against the previous year. The level of import peaked at $X per litre in 2015; however, from 2016 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Togo (+6.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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