Dominican Republic: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in the Dominican Republic

For the fifth year in a row, the Dominican frozen fish and seafood market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption saw a buoyant increase. Over the period under review, the market reached the maximum level in 2022 and is likely to continue growth in years to come.

Production of Frozen Fish And Seafood in the Dominican Republic

In value terms, frozen fish and seafood production rose slightly to $X in 2022 estimated in export price. Overall, production saw a buoyant expansion. The most prominent rate of growth was recorded in 2019 with an increase of X%. Over the period under review, production reached the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports from the Dominican Republic

In 2022, overseas shipments of frozen fish and seafood decreased by X% to X tons, falling for the fourth consecutive year after two years of growth. Over the period under review, exports recorded a dramatic downturn. The pace of growth appeared the most rapid in 2015 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, frozen fish and seafood exports dropped significantly to $X in 2022. Overall, exports showed a dramatic descent. The growth pace was the most rapid in 2015 with an increase of X% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen fish and seafood exports from the Dominican Republic, with a X% share of total exports. Moreover, frozen fish and seafood exports to the United States exceeded the volume sent to the second major destination, Chile (X tons), twofold. The third position in this ranking was taken by Canada (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United States amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Canada (X% per year).

In value terms, the United States ($X) remains the key foreign market for frozen fish and seafood exports from the Dominican Republic, comprising X% of total exports. The second position in the ranking was taken by Chile ($X), with a X% share of total exports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Chile (X% per year) and Germany (X% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, jumping by X% against the previous year. Overall, export price indicated a prominent increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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

Imports of Frozen Fish And Seafood

Imports into the Dominican Republic

In 2022, frozen fish and seafood imports into the Dominican Republic surged to X tons, increasing by X% on the previous year's figure. Over the period under review, imports enjoyed a significant expansion. The most prominent rate of growth was recorded in 2016 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, frozen fish and seafood imports soared to $X in 2022. Overall, imports saw a prominent expansion. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.

Imports by Country

China (X tons), Vietnam (X tons) and India (X tons) were the main suppliers of frozen fish and seafood imports to the Dominican Republic, together comprising X% of total imports. Mexico, Chile, the United States, Indonesia, New Zealand and Argentina lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and Vietnam ($X) appeared to be the largest frozen fish and seafood suppliers to the Dominican Republic, with a combined X% share of total imports. Chile, Indonesia, the United States, Mexico, New Zealand and Argentina lagged somewhat behind, together accounting for a further X%.

In terms of the main suppliers, Mexico, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, 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, surging by X% against the previous year. Over the period under review, the import price, however, showed a deep contraction. The import price peaked at $X per ton in 2012; however, from 2013 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 Chile ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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