GCC: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Exports

Exports in GCC

In 2023, after four years of decline, there was significant growth in shipments abroad of frozen fish fillet, when their volume increased by X% to X tons. Overall, exports recorded a resilient expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

In value terms, frozen fish fillet exports rose sharply to $X in 2023. Over the period under review, exports enjoyed a prominent increase. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the major exporter of frozen fish fillet in GCC, with the volume of exports amounting to X tons, which was approx. X% of total exports in 2023. Oman (X tons) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%). Bahrain (X tons) held a relatively small share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Saudi Arabia (X%) and Oman (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. By contrast, Bahrain (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Saudi Arabia increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest frozen fish fillet supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports. It was followed by Saudi Arabia, with an X% share.

In the United Arab Emirates, frozen fish fillet exports expanded at an average annual rate of X% over the period from 2012-2023. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

In 2023, the export price in GCC amounted to $X per ton, reducing by X% against the previous year. Export price indicated a pronounced increase from 2012 to 2023: its price 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, frozen fish fillet export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2022 when the export price increased by X%. As a result, the export price reached the peak level of $X per ton, and then fell significantly in the following year.

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

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

Frozen Fish Fillet Imports

Imports in GCC

In 2023, frozen fish fillet imports in GCC dropped to X tons, shrinking by X% on the year before. Overall, imports continue to indicate a pronounced downturn. The pace of growth appeared the most rapid in 2013 with an increase of X% against the previous year. The volume of import peaked at X tons in 2014; however, from 2015 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen fish fillet imports rose sharply to $X in 2023. The total import value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2018 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.

Imports by Country

In 2023, the United Arab Emirates (X tons) and Saudi Arabia (X tons) represented the major importers of frozen fish fillet in GCC, together making up X% of total imports. It was distantly followed by Kuwait (X tons), Qatar (X tons), Oman (X tons) and Bahrain (X tons), together generating a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported frozen fish fillet in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

In the United Arab Emirates, frozen fish fillet imports remained relatively stable over the period from 2012-2023. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Kuwait (X% per year).

Import Prices by Country

In 2023, the import price in GCC amounted to $X per ton, with an increase of X% against the previous year. Import price indicated a buoyant expansion from 2012 to 2023: its price 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, frozen fish fillet import price increased by X% against 2018 indices. The most prominent rate of growth was recorded in 2022 an increase of X% against the previous year. Over the period under review, import prices hit record highs in 2023 and is likely to see steady growth in years to come.

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

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

Source: IndexBox Platform