Western Africa: Freshwater Fish Market 2024

Freshwater Fish Market Size in Western Africa

In 2023, the West African freshwater fish market increased by X% to $X, rising for the third consecutive year after two years of decline. Overall, consumption enjoyed a prominent increase. Over the period under review, the market hit record highs in 2023 and is likely to see steady growth in the near future.

Freshwater Fish Production in Western Africa

In value terms, freshwater fish production contracted slightly to $X in 2023 estimated in export price. In general, production posted prominent growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. The level of production peaked at $X in 2022, and then reduced modestly in the following year.

Freshwater Fish Exports

Exports in Western Africa

In 2023, approx. X tons of freshwater fish were exported in Western Africa; which is down by X% on the previous year. Overall, exports saw a deep downturn. The pace of growth was the most pronounced in 2015 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

In value terms, freshwater fish exports dropped significantly to $X in 2023. Over the period under review, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2022 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2019; however, from 2020 to 2023, the exports remained at a lower figure.

Exports by Country

In 2023, Gambia (X tons) was the major exporter of freshwater fish, mixing up X% of total exports. Senegal (X tons) held a X% share (based on physical terms) of total exports, which put it in second place, followed by Guinea (X%). Ghana (X tons) held a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to freshwater fish exports from Gambia stood at X%. At the same time, Senegal (X%) and Guinea (X%) displayed positive paces of growth. Moreover, Senegal emerged as the fastest-growing exporter exported in Western Africa, with a CAGR of X% from 2012-2023. By contrast, Ghana (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Senegal, Guinea and Gambia increased by X, X and X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Gambia ($X) remains the largest freshwater fish supplier in Western Africa, comprising X% of total exports. The second position in the ranking was held by Senegal ($X), with a X% share of total exports. It was followed by Ghana, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value in Gambia amounted to X%. In the other countries, the average annual rates were as follows: Senegal (X% per year) and Ghana (X% per year).

Export Prices by Country

The export price in Western Africa stood at $X per ton in 2023, growing by X% against the previous year. Over the period under review, the export price enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2021 an increase of X%. The level of export peaked in 2023 and is expected to retain growth in years to come.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Gambia (X%), while the other leaders experienced mixed trends in the export price figures.

Freshwater Fish Imports

Imports in Western Africa

In 2023, overseas purchases of freshwater fish were finally on the rise to reach X tons for the first time since 2019, thus ending a three-year declining trend. Overall, imports continue to indicate a remarkable increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. As a result, imports reached the peak of X tons. From 2015 to 2023, the growth of imports remained at a lower figure.

In value terms, freshwater fish imports surged to $X in 2023. In general, imports, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2015; however, from 2016 to 2023, imports stood at a somewhat lower figure.

Imports by Country

In 2023, Burkina Faso (X tons) was the key importer of freshwater fish, creating X% of total imports. It was distantly followed by Nigeria (X tons) and Guinea (X tons), together achieving a X% share of total imports. The following importers - Ghana (X tons), Niger (X tons), Mali (X tons) and Senegal (X tons) - each recorded an X% share of total imports.

Burkina Faso was also the fastest-growing in terms of the freshwater fish imports, with a CAGR of X% from 2012 to 2023. At the same time, Guinea (X%) and Ghana (X%) displayed positive paces of growth. By contrast, Mali (X%), Nigeria (X%), Niger (X%) and Senegal (X%) illustrated a downward trend over the same period. While the share of Burkina Faso (X p.p.) and Guinea (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Mali (X p.p.), Niger (X p.p.), Nigeria (X p.p.) and Senegal (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest freshwater fish importing markets in Western Africa were Senegal ($X), Nigeria ($X) and Ghana ($X), together comprising X% of total imports. Burkina Faso, Mali, Niger and Guinea lagged somewhat behind, together accounting for a further X%.

Burkina Faso, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among 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

In 2023, the import price in Western Africa amounted to $X per ton, with a decrease of X% against the previous year. Over the period under review, the import price faced a abrupt curtailment. The pace of growth was the most pronounced in 2014 when the import price increased by X%. The level of import peaked at $X per ton in 2020; however, from 2021 to 2023, import prices failed to regain momentum.

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

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

Source: IndexBox Platform