Hong Kong Sees 1% Increase in Freshwater Fish Imports, Reaching a Record $432 Million in 2023
Hong Kong Freshwater Fish Imports
In 2023, the amount of freshwater fish imported into Hong Kong was estimated at 64K tons, growing by 11% on the previous year's figure. Overall, imports, however, recorded a pronounced decline. The pace of growth appeared the most rapid in 2015 when imports increased by 14% against the previous year. As a result, imports attained the peak of 102K tons. From 2016 to 2023, the growth of imports failed to regain momentum.
In value terms, freshwater fish imports amounted to $432M (IndexBox estimates) in 2023. The total import value increased at an average annual rate of +1.9% from 2013 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 52%. Over the period under review, imports attained the maximum in 2023 and are likely to continue growth in the near future.
| COUNTRY | Import Value of Freshwater Fish in Hong Kong (million USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| China | 208 | 238 | 269 | 211 | 181 | 171 | 157 | 211 | 317 | 274 | 273 |
| Canada | 1.5 | 2.7 | 2.8 | 3.2 | 3.0 | 19.3 | 47.1 | 18.7 | 30.6 | 49.1 | 48.8 |
| United States | 3.4 | 3.5 | 3.0 | 4.2 | 3.9 | 4.5 | 9.2 | 9.3 | 18.6 | 42.3 | 42.1 |
| Philippines | 47.3 | 53.5 | 48.2 | 41.8 | 39.1 | 36.1 | 28.2 | 11.8 | 14.9 | 19.1 | 19.1 |
| Taiwan (Chinese) | 12.0 | 9.9 | 15.2 | 14.1 | 18.0 | 20.7 | 17.4 | 6.8 | 5.7 | 18.1 | 18.0 |
| Indonesia | 30.1 | 25.4 | 29.0 | 32.3 | 28.6 | 26.6 | 23.6 | 9.7 | 8.9 | 3.7 | 7.3 |
| Australia | 14.3 | 13.1 | 11.7 | 14.5 | 18.0 | 14.0 | 9.4 | 1.6 | 2.4 | 2.6 | 2.6 |
| Others | 40.0 | 34.3 | 27.3 | 28.5 | 26.2 | 22.4 | 17.3 | 10.1 | 26.1 | 17.0 | 21.2 |
| Total | 357 | 380 | 406 | 350 | 318 | 314 | 310 | 279 | 424 | 426 | 432 |
Imports by Country
In 2023, China (57K tons) constituted the largest supplier of freshwater fish to Hong Kong, with a 89% share of total imports. Moreover, freshwater fish imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (2.4K tons), more than tenfold. The third position in this ranking was taken by the Philippines (1.2K tons), with a 1.9% share.
From 2013 to 2023, the average annual growth rate of volume from China amounted to -3.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan (Chinese) (+3.3% per year) and the Philippines (-9.3% per year).
In value terms, China ($273M) constituted the largest supplier of freshwater fish to Hong Kong, comprising 63% of total imports. The second position in the ranking was held by Canada ($49M), with an 11% share of total imports. It was followed by the United States, with a 9.7% share.
From 2013 to 2023, the average annual rate of growth in terms of value from China stood at +2.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Canada (+41.2% per year) and the United States (+28.7% per year).
Import Prices by Country
In 2023, the freshwater fish price stood at $6,749 per ton (CIF, Hong Kong), dropping by -8.7% against the previous year. Overall, import price indicated resilient growth from 2013 to 2023: its price increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, freshwater fish import price increased by +52.6% against 2020 indices. The pace of growth was the most pronounced in 2021 an increase of 44% against the previous year. The import price peaked at $7,390 per ton in 2022, and then shrank in the following year.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the Philippines ($15,347 per ton), while the price for China ($4,784 per ton) was amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by China (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.
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1. INTRODUCTION
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10. PROFILES OF MAJOR PRODUCERS
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LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Per Capita Consumption In 2012-2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2024
- Market Value, 2012–2024
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2024
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2024
- Trade Balance, In Physical Terms, 2012-2024
- Trade Balance, In Value Terms, 2012-2024
- Per Capita Consumption, 2012-2024
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2024
- Production, In Value Terms, 2012–2024
- Imports, In Physical Terms, 2012–2024
- Imports, In Value Terms, 2012–2024
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country Of Origin, 2012–2024
- Exports, In Physical Terms, 2012–2024
- Exports, In Value Terms, 2012–2024
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country Of Destination, 2012–2024
