Azerbaijan: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Azerbaijan

The Azerbaijani frozen fish and seafood market rose significantly to $X in 2022, picking up by X% against the previous year. The market value increased at an average annual rate of X% from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption reached the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Production of Frozen Fish And Seafood in Azerbaijan

In value terms, frozen fish and seafood production rose significantly to $X in 2022 estimated in export price. Overall, production, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Frozen fish and seafood production peaked at $X in 2016; however, from 2017 to 2022, production remained at a lower figure.

Exports of Frozen Fish And Seafood

Exports from Azerbaijan

In 2022, frozen fish and seafood exports from Azerbaijan expanded markedly to X tons, picking up by X% against 2021 figures. In general, exports enjoyed a significant increase. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, the exports attained the peak figure at X tons in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports expanded significantly to $X in 2022. Overall, exports saw significant growth. The pace of growth appeared the most rapid in 2016 with an increase of X% against the previous year. The exports peaked at $X in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

Exports by Country

Russia (X tons) was the main destination for frozen fish and seafood exports from Azerbaijan, with a X% share of total exports. Moreover, frozen fish and seafood exports to Russia exceeded the volume sent to the second major destination, Turkmenistan (X tons), more than tenfold.

From 2013 to 2022, the average annual rate of growth in terms of volume to Russia stood at X%.

In value terms, Russia ($X) remains the key foreign market for frozen fish and seafood exports from Azerbaijan, comprising X% of total exports. The second position in the ranking was taken by Turkmenistan ($X), with a X% share of total exports.

From 2013 to 2022, the average annual growth rate of value to Russia stood at X%.

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, which is down by X% against the previous year. In general, the export price, however, enjoyed a prominent increase. The most prominent rate of growth was recorded in 2018 when the average export price increased by X%. The export price peaked at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Russia ($X per ton), while the average price for exports to Turkmenistan totaled $X per ton.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Russia (X%).

Imports of Frozen Fish And Seafood

Imports into Azerbaijan

In 2022, approx. X tons of frozen fish and seafood were imported into Azerbaijan; increasing by X% compared with the year before. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 with an increase of X%. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, frozen fish and seafood imports surged to $X in 2022. Overall, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2016 with an increase of X%. Imports peaked in 2022 and are likely to continue growth in years to come.

Imports by Country

In 2022, Russia (X tons) constituted the largest supplier of frozen fish and seafood to Azerbaijan, with a X% share of total imports. Moreover, frozen fish and seafood imports from Russia exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), twofold. Iceland (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Russia was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Iceland (X% per year).

In value terms, Russia ($X), Chile ($X) and Vietnam ($X) were the largest frozen fish and seafood suppliers to Azerbaijan, together comprising X% of total imports. Iceland, Greenland, China, Norway, Canada, Kazakhstan, New Zealand, the UK, the United States and Argentina lagged somewhat behind, together accounting for a further X%.

Greenland, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average frozen fish and seafood import price stood at $X per ton in 2022, with an increase of X% against the previous year. Overall, the import price continues to indicate strong growth. The pace of growth appeared the most rapid in 2016 an increase of X%. The import price peaked in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Russia ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Greenland (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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