Ecuador: Frozen Fish Fillet Market 2024

Frozen Fish Fillet Market Size in Ecuador

The Ecuadorian frozen fish fillet market shrank significantly to $X in 2022, which is down by -23.5% against the previous year. In general, consumption, however, continues to indicate significant growth. As a result, consumption attained the peak level of $X, and then reduced notably in the following year.

Frozen Fish Fillet Production in Ecuador

In value terms, frozen fish fillet production reached $X in 2022 estimated in export price. Over the period under review, production saw a noticeable curtailment. The most prominent rate of growth was recorded in 2017 when the production volume increased by 45%. Over the period under review, production reached the maximum level at $X in 2015; however, from 2016 to 2022, production failed to regain momentum.

Frozen Fish Fillet Exports

Exports from Ecuador

In 2022, overseas shipments of frozen fish fillet decreased by -1.4% to X tons, falling for the third consecutive year after two years of growth. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2019 with an increase of 37% against the previous year. 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 fillet exports reached $X in 2022. Over the period under review, exports faced a abrupt curtailment. The pace of growth was the most pronounced in 2018 with an increase of 39% against the previous year. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United States (X tons) was the main destination for frozen fish fillet exports from Ecuador, accounting for a 36% share of total exports. Moreover, frozen fish fillet exports to the United States exceeded the volume sent to the second major destination, Spain (X tons), threefold. The third position in this ranking was held by Portugal (X tons), with a 9.2% share.

From 2012 to 2022, the average annual growth rate of volume to the United States amounted to -12.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-4.7% per year) and Portugal (+76.8% per year).

In value terms, the United States ($X) remains the key foreign market for frozen fish fillet exports from Ecuador, comprising 49% of total exports. The second position in the ranking was taken by Spain ($X), with an 11% share of total exports. It was followed by Portugal, with an 8.4% share.

From 2012 to 2022, the average annual growth rate of value to the United States totaled -13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Spain (-5.0% per year) and Portugal (+82.8% per year).

Export Prices by Country

In 2022, the average frozen fish fillet export price amounted to $X per ton, surging by 3% against the previous year. Over the period under review, the export price, however, showed a mild contraction. The most prominent rate of growth was recorded in 2015 when the average export price increased by 9% against the previous year. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

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 Canada ($X per ton), while the average price for exports to Colombia ($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 Venezuela (+5.5%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Fillet Imports

Imports into Ecuador

After three years of growth, supplies from abroad of frozen fish fillet decreased by -21.7% to X tons in 2022. Over the period under review, imports saw a slight decrease. The most prominent rate of growth was recorded in 2014 with an increase of 147% against the previous year. Imports peaked at X tons in 2021, and then reduced remarkably in the following year.

In value terms, frozen fish fillet imports fell markedly to $X in 2022. Overall, imports, however, posted a pronounced expansion. The most prominent rate of growth was recorded in 2019 with an increase of 131% against the previous year. Imports peaked at $X in 2021, and then dropped markedly in the following year.

Imports by Country

In 2022, Peru (X tons) constituted the largest supplier of frozen fish fillet to Ecuador, with a 39% share of total imports. Moreover, frozen fish fillet imports from Peru exceeded the figures recorded by the second-largest supplier, Chile (X tons), fourfold. The third position in this ranking was taken by Vietnam (X tons), with a 7.4% share.

From 2012 to 2022, the average annual growth rate of volume from Peru stood at -8.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+11.7% per year) and Vietnam (-0.0% per year).

In value terms, Peru ($X) constituted the largest supplier of frozen fish fillet to Ecuador, comprising 45% of total imports. The second position in the ranking was taken by Chile ($X), with a 21% share of total imports. It was followed by Taiwan (Chinese), with a 3.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Peru was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Chile (+13.2% per year) and Taiwan (Chinese) (+24.1% per year).

Import Prices by Country

The average frozen fish fillet import price stood at $X per ton in 2022, waning by -19.9% against the previous year. Overall, the import price, however, saw a notable increase. The most prominent rate of growth was recorded in 2015 an increase of 99% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then reduced remarkably in the following year.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Chile ($X per ton), while the price for Vietnam ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+12.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :