Chile: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Chile

The Chilean inedible fish products market reduced modestly to $X in 2022, falling by -3.9% against the previous year. Overall, consumption, however, saw notable growth. Over the period under review, the market attained the maximum level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Chile

In value terms, inedible fish products production shrank slightly to $X in 2022 estimated in export price. Overall, production, however, posted strong growth. The growth pace was the most rapid in 2013 when the production volume increased by 79% against the previous year. Inedible fish products production peaked at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Inedible Fish Products Exports

Exports from Chile

In 2022, after three years of growth, there was significant decline in overseas shipments of inedible fish products, when their volume decreased by -11.8% to X tons. In general, exports, however, continue to indicate a pronounced increase. The most prominent rate of growth was recorded in 2021 when exports increased by 69% against the previous year. As a result, the exports attained the peak of X tons, and then contracted in the following year.

In value terms, inedible fish products exports rose remarkably to $X in 2022. Over the period under review, total exports indicated buoyant growth from 2012 to 2022: its value increased at an average annual rate of +7.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +58.3% against 2018 indices. The pace of growth appeared the most rapid in 2021 with an increase of 36% against the previous year. Over the period under review, the exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports by Country

Mexico (X tons), Argentina (X tons) and Honduras (X tons) were the main destinations of inedible fish products exports from Chile, together accounting for 91% of total exports. Peru and Ecuador lagged somewhat behind, together accounting for a further 6.9%.

From 2012 to 2022, the biggest increases were recorded for Ecuador (with a CAGR of +72.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Mexico ($X), Argentina ($X) and Honduras ($X) appeared to be the largest markets for inedible fish products exported from Chile worldwide, with a combined 73% share of total exports. Peru and Ecuador lagged somewhat behind, together accounting for a further 21%.

In terms of the main countries of destination, Ecuador, with a CAGR of +78.5%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average inedible fish products export price stood at $X per ton in 2022, growing by 21% against the previous year. In general, export price indicated a tangible expansion from 2012 to 2022: its price increased at an average annual rate of +3.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, inedible fish products export price decreased by -19.2% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average export price increased by 47% against the previous year. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Honduras ($X per ton), while the average price for exports to Argentina ($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 Uruguay (+8.1%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Chile

In 2022, after four years of decline, there was significant growth in purchases abroad of inedible fish products, when their volume increased by 152% to X tons. Overall, imports, however, saw a abrupt slump. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports stood at a somewhat lower figure.

In value terms, inedible fish products imports fell to $X in 2022. In general, imports, however, saw a precipitous decrease. The growth pace was the most rapid in 2015 with an increase of 44%. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Argentina (X tons) constituted the largest supplier of inedible fish products to Chile, with a 83% share of total imports. Moreover, inedible fish products imports from Argentina exceeded the figures recorded by the second-largest supplier, Morocco (X tons), more than tenfold. Spain (X tons) ranked third in terms of total imports with a 5.5% share.

From 2012 to 2022, the average annual growth rate of volume from Argentina stood at +7.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Morocco (-52.4% per year) and Spain (-33.5% per year).

In value terms, Argentina ($X) constituted the largest supplier of inedible fish products to Chile, comprising 36% of total imports. The second position in the ranking was taken by the United States ($X), with a 15% share of total imports. It was followed by Morocco, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from Argentina amounted to +4.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+3.5% per year) and Morocco (-47.5% per year).

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, waning by -65.9% against the previous year. Overall, the import price faced a deep contraction. The most prominent rate of growth was recorded in 2021 when the average import price increased by 39% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2015; however, from 2016 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iceland (+12.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :