Bahrain: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Bahrain

The Bahraini market for fish fillets and other fish meat skyrocketed to $X in 2022, growing by 56% against the previous year. In general, consumption continues to indicate a significant expansion. Consumption of peaked in 2022 and is expected to retain growth in years to come.

Production of Fish Fillets and Other Fish Meat in Bahrain

In value terms, production of fish fillets and other fish meat surged to $X in 2022 estimated in export price. Overall, production posted a resilient expansion. As a result, production reached the peak level and is likely to continue growth in the immediate term.

Exports of Fish Fillets and Other Fish Meat

Exports from Bahrain

In 2022, shipments abroad of fish fillets and other fish meat decreased by -22.9% to X tons for the first time since 2017, thus ending a four-year rising trend. Over the period under review, exports, however, saw a buoyant expansion. The most prominent rate of growth was recorded in 2014 when exports increased by 699%. The exports peaked at X tons in 2021, and then reduced rapidly in the following year.

In value terms, exports of fish fillets and other fish meat shrank remarkably to $X in 2022. Overall, exports, however, enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 with an increase of 755%. The exports peaked at $X in 2021, and then reduced remarkably in the following year.

Exports by Country

The United Arab Emirates (X tons), Iraq (X tons) and Saudi Arabia (X tons) were the main destinations of exports of fish fillets and other fish meat from Bahrain, together comprising 94% of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +82.8%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for fish fillets and other fish meat exports from Bahrain, comprising 54% of total exports. The second position in the ranking was held by Iraq ($X), with a 19% share of total exports. It was followed by Saudi Arabia, with a 19% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (+52.1% per year) and Saudi Arabia (+0.3% per year).

Export Prices by Country

In 2022, the average export price for fish fillets and other fish meat amounted to $X per ton, shrinking by -2.9% against the previous year. Overall, export price indicated measured growth from 2012 to 2022: its price increased at an average annual rate of +2.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, export price for fish fillets and other fish meat decreased by -13.0% against 2020 indices. The most prominent rate of growth was recorded in 2016 when the average export price increased by 26%. Over the period under review, the average export prices hit record highs at $X per ton in 2020; however, from 2021 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 Jordan ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+6.4%), while the prices for the other major destinations experienced a decline.

Imports of Fish Fillets and Other Fish Meat

Imports into Bahrain

In 2022, purchases abroad of fish fillets and other fish meat decreased by -20.5% to X tons, falling for the third consecutive year after eight years of growth. Overall, imports, however, recorded a measured expansion. The pace of growth was the most pronounced in 2016 with an increase of 95%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, imports of fish fillets and other fish meat expanded sharply to $X in 2022. In general, imports, however, continue to indicate perceptible growth. The pace of growth was the most pronounced in 2018 with an increase of 116%. Over the period under review, imports of hit record highs at $X in 2019; however, from 2020 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Vietnam (X tons) constituted the largest supplier of fish fillets and other fish meat to Bahrain, with a 70% share of total imports. Moreover, imports of fish fillets and other fish meat from Vietnam exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X tons), sixfold. The third position in this ranking was taken by Tanzania (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Vietnam stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+0.3% per year) and Tanzania (-0.3% per year).

In value terms, the largest fish fillets and other fish meat suppliers to Bahrain were Vietnam ($X), Tanzania ($X) and the United Arab Emirates ($X), together comprising 82% of total imports. Uganda, Saudi Arabia and Myanmar lagged somewhat behind, together comprising a further 8.6%.

Saudi Arabia, with a CAGR of +34.3%, recorded the highest growth rate of 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

In 2022, the average import price for fish fillets and other fish meat amounted to $X per ton, with an increase of 41% against the previous year. In general, the import price, however, showed a relatively flat trend pattern. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+13.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform