Western Africa: Frozen Whole Fish Market 2024

Frozen Whole Fish Market Size in Western Africa

The West African frozen whole fish market totaled $X in 2023, increasing by X% against the previous year. The total consumption indicated a pronounced increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. The level of consumption peaked at $X in 2021; however, from 2022 to 2023, consumption failed to regain momentum.

Frozen Whole Fish Production in Western Africa

In value terms, frozen whole fish production amounted to $X in 2023 estimated in export price. Overall, production posted a remarkable increase. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. As a result, production attained the peak level of $X. From 2015 to 2023, production growth failed to regain momentum.

Frozen Whole Fish Exports

Exports in Western Africa

In 2023, approx. X tons of frozen whole fish were exported in Western Africa; growing by X% against the previous year. Total exports indicated tangible growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2023, the exports failed to regain momentum.

In value terms, frozen whole fish exports amounted to $X in 2023. Total exports indicated a pronounced expansion from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports decreased by X% against 2019 indices. The pace of growth was the most pronounced in 2014 when exports increased by X% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2023, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Mauritania (X tons) and Senegal (X tons) prevails in exports structure, together making up X% of total exports. Guinea-Bissau (X tons), Ghana (X tons), Guinea (X tons) and Sierra Leone (X tons) followed a long way behind the leaders.

From 2012 to 2023, the biggest increases were recorded for Sierra Leone (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mauritania ($X), Senegal ($X) and Guinea ($X) constituted the countries with the highest levels of exports in 2023, with a combined X% share of total exports. Ghana, Guinea-Bissau and Sierra Leone lagged somewhat behind, together accounting for a further X%.

Sierra Leone, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a slight decline. The pace of growth appeared the most rapid in 2014 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2015 to 2023, the export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Guinea ($X per ton), while Guinea-Bissau ($X per ton) was amongst the lowest.

From 2012 to 2023, 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.

Frozen Whole Fish Imports

Imports in Western Africa

In 2023, the amount of frozen whole fish imported in Western Africa rose significantly to X tons, with an increase of X% compared with 2022 figures. Total imports indicated moderate growth from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2017 when imports increased by X% against the previous year. The volume of import peaked at X tons in 2021; however, from 2022 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen whole fish imports declined modestly to $X in 2023. Overall, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of $X. From 2022 to 2023, the growth of imports remained at a lower figure.

Imports by Country

Cote d'Ivoire was the major importer of frozen whole fish in Western Africa, with the volume of imports recording X tons, which was approx. X% of total imports in 2023. Nigeria (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Burkina Faso (X%), Ghana (X%), Benin (X%) and Mali (X%). Togo (X tons) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to frozen whole fish imports into Cote d'Ivoire stood at X%. At the same time, Burkina Faso (X%), Mali (X%), Togo (X%) and Benin (X%) displayed positive paces of growth. Moreover, Burkina Faso emerged as the fastest-growing importer imported in Western Africa, with a CAGR of X% from 2012-2023. Ghana experienced a relatively flat trend pattern. By contrast, Nigeria (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Burkina Faso, Cote d'Ivoire and Mali increased by X, X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest frozen whole fish importing markets in Western Africa were Cote d'Ivoire ($X), Nigeria ($X) and Ghana ($X), together accounting for X% of total imports. Benin, Mali, Togo and Burkina Faso lagged somewhat behind, together comprising a further X%.

Mali, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main importing countries 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 ton in 2023, dropping by X% against the previous year. Overall, the import price recorded a pronounced shrinkage. The most prominent rate of growth was recorded in 2020 an increase of X%. Over the period under review, import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2023, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was Nigeria ($X per ton), while Burkina Faso ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Benin (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform