GCC: Market for Dried Or Salted Fish 2024

Market Size for Dried Or Salted Fish in GCC

In 2021, the GCC dried or salted fish market increased by 6.1% to $X for the first time since 2017, thus ending a three-year declining trend. Over the period under review, consumption, however, continues to indicate a slight decrease. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Production of Dried Or Salted Fish in GCC

In value terms, dried or salted fish production expanded markedly to $X in 2021 estimated in export price. Overall, production showed a pronounced decline. The most prominent rate of growth was recorded in 2017 with an increase of 33%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Exports of Dried Or Salted Fish

Exports in GCC

In 2021, approx. X tons of dried or salted fish were exported in GCC; declining by -55.4% on 2020. Overall, exports recorded a deep contraction. The most prominent rate of growth was recorded in 2017 with an increase of 74% against the previous year. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, dried or salted fish exports fell dramatically to $X in 2021. Over the period under review, exports recorded a precipitous setback. The growth pace was the most rapid in 2016 with an increase of 75% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

Exports by Country

In 2021, Oman (X tons) represented the main exporter of dried or salted fish, constituting 63% of total exports. It was distantly followed by the United Arab Emirates (X tons), making up a 33% share of total exports. Saudi Arabia (X tons) took a relatively small share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Saudi Arabia (with a CAGR of +5.0%), while the other leaders experienced a decline in the exports figures.

In value terms, the largest dried or salted fish supplying countries in GCC were the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X), with a combined 98% share of total exports.

Oman, with a CAGR of -10.1%, recorded the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2021, the export price in GCC amounted to $X per ton, falling by -25.6% against the previous year. In general, the export price continues to indicate a deep slump. The most prominent rate of growth was recorded in 2016 when the export price increased by 116%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of origin: the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+0.9%), while the other leaders experienced a decline in the export price figures.

Imports of Dried Or Salted Fish

Imports in GCC

In 2021, purchases abroad of dried or salted fish increased by 2.7% to X tons, rising for the second year in a row after three years of decline. In general, imports, however, showed a deep contraction. The growth pace was the most rapid in 2014 with an increase of 67%. As a result, imports attained the peak of X tons. From 2015 to 2021, the growth of imports failed to regain momentum.

In value terms, dried or salted fish imports amounted to $X in 2021. Over the period under review, imports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2014 with an increase of 37% against the previous year. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importing country with an import of about X tons, which recorded 56% of total imports. Kuwait (X tons) held the second position in the ranking, distantly followed by Qatar (X tons) and Bahrain (X tons). All these countries together took approx. 42% share of total imports. Oman (X tons) took a minor share of total imports.

From 2012 to 2021, the biggest increases were recorded for Kuwait (with a CAGR of +3.1%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Qatar ($X) appeared to be the countries with the highest levels of imports in 2021, together comprising 90% of total imports. Bahrain and Oman lagged somewhat behind, together comprising a further 9.6%.

Among the main importing countries, Bahrain, with a CAGR of +2.1%, 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 mixed trends in the imports figures.

Import Prices by Country

The import price in GCC stood at $X per ton in 2021, surging by 1.9% against the previous year. Overall, the import price, however, saw a slight descent. The most prominent rate of growth was recorded in 2015 when the import price increased by 51% against the previous year. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Bahrain (+6.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform