Bangladesh: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Bangladesh

The Bangladeshi inedible fish products market fell to $X in 2022, reducing by -13.4% against the previous year. In general, consumption, however, recorded a moderate expansion. Inedible fish products consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Inedible Fish Products Production in Bangladesh

In value terms, inedible fish products production fell to $X in 2022 estimated in export price. In general, production, however, showed a temperate expansion. The pace of growth appeared the most rapid in 2013 when the production volume increased by 58% against the previous year. Inedible fish products production peaked at $X in 2016; however, from 2017 to 2022, production failed to regain momentum.

Inedible Fish Products Exports

Exports from Bangladesh

In 2022, approx. X tons of inedible fish products were exported from Bangladesh; shrinking by -28.6% on the previous year. In general, exports, however, saw a strong expansion. The pace of growth appeared the most rapid in 2016 with an increase of 227%. The exports peaked at X tons in 2021, and then declined rapidly in the following year.

In value terms, inedible fish products exports dropped notably to $X in 2022. Overall, exports, however, posted a prominent expansion. The most prominent rate of growth was recorded in 2019 when exports increased by 331%. As a result, the exports reached the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

South Korea (X tons) and China (X tons) were the main destinations of inedible fish products exports from Bangladesh.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +31.3%).

In value terms, the largest markets for inedible fish products exported from Bangladesh were South Korea ($X) and China ($X).

China, with a CAGR of +41.2%, saw the highest growth rate of the value of exports, among the main countries of destination over the period under review.

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, leveling off at the previous year. Over the period under review, the export price, however, saw slight growth. The pace of growth appeared the most rapid in 2019 when the average export price increased by 74% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2022, the average export prices failed to regain momentum.

Average prices varied noticeably for the major external markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per ton), while the average price for exports to China amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (+7.6%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Bangladesh

In 2022, imports of inedible fish products into Bangladesh dropped to X tons, reducing by -7.3% on the year before. In general, imports, however, continue to indicate significant growth. The pace of growth was the most pronounced in 2013 with an increase of 292% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, inedible fish products imports fell to $X in 2022. Overall, imports, however, recorded a significant increase. The most prominent rate of growth was recorded in 2013 with an increase of 402%. Over the period under review, imports reached the peak figure at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United States (X tons) constituted the largest supplier of inedible fish products to Bangladesh, with a 87% share of total imports. Moreover, inedible fish products imports from the United States exceeded the figures recorded by the second-largest supplier, India (X tons), more than tenfold. The third position in this ranking was taken by Hong Kong SAR (X tons), with a 4.2% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United States stood at +33.1%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+25.3% per year) and Hong Kong SAR (+2.5% per year).

In value terms, the United States ($X) constituted the largest supplier of inedible fish products to Bangladesh, comprising 73% of total imports. The second position in the ranking was taken by Hong Kong SAR ($X), with a 12% share of total imports. It was followed by India, with a 4.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States amounted to +36.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Hong Kong SAR (+19.6% per year) and India (+33.5% per year).

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, dropping by -6.2% against the previous year. In general, the import price, however, showed resilient growth. The growth pace was the most rapid in 2019 an increase of 97% against the previous year. The import price peaked at $X per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+16.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :