Myanmar: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Myanmar

In 2022, after two years of decline, there was growth in the Myanmar's frozen fish and seafood market, when its value increased by X% to $X. Overall, consumption, however, recorded a abrupt descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption stood at a somewhat lower figure.

Production of Frozen Fish And Seafood in Myanmar

In value terms, frozen fish and seafood production fell slightly to $X in 2022 estimated in export price. Overall, production showed a perceptible decline. The pace of growth was the most pronounced in 2016 when the production volume increased by X% against the previous year. Frozen fish and seafood production peaked at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Exports of Frozen Fish And Seafood

Exports from Myanmar

After three years of growth, overseas shipments of frozen fish and seafood decreased by X% to X tons in 2022. In general, exports, however, recorded a significant increase. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then shrank in the following year.

In value terms, frozen fish and seafood exports contracted to $X in 2022. Overall, exports, however, continue to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then shrank in the following year.

Exports by Country

Saudi Arabia (X tons), China (X tons) and Thailand (X tons) were the main destinations of frozen fish and seafood exports from Myanmar, together accounting for X% of total exports.

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

In value terms, China ($X), Thailand ($X) and Japan ($X) appeared to be the largest markets for frozen fish and seafood exported from Myanmar worldwide, with a combined X% share of total exports. Saudi Arabia, Singapore, the United States, the United Arab Emirates, Malaysia, the UK, Bangladesh, Qatar, Oman and Kuwait lagged somewhat behind, together accounting for a further X%.

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

Export Prices by Country

In 2022, the average frozen fish and seafood export price amounted to $X per ton, declining by X% against the previous year. In general, the export price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2019 an increase of X%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

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 Japan ($X per ton), while the average price for exports to Saudi Arabia ($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 Japan (X%), while the prices for the other major destinations experienced a decline.

Imports of Frozen Fish And Seafood

Imports into Myanmar

In 2022, approx. X tons of frozen fish and seafood were imported into Myanmar; rising by X% compared with the previous year. Overall, imports saw a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish and seafood imports skyrocketed to $X in 2022. In general, imports posted strong growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, Norway (X tons) constituted the largest frozen fish and seafood supplier to Myanmar, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Norway exceeded the figures recorded by the second-largest supplier, Turkey (X tons), fivefold. The third position in this ranking was taken by Argentina (X tons), with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Norway amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Argentina (X% per year).

In value terms, Norway ($X) constituted the largest supplier of frozen fish and seafood to Myanmar, comprising X% of total imports. The second position in the ranking was taken by Turkey ($X), with a X% share of total imports. It was followed by Thailand, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Norway amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Turkey (X% per year) and Thailand (X% per year).

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, surging by X% against the previous year. Overall, the import price, however, recorded a pronounced downturn. The growth pace was the most rapid in 2014 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

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

Source: IndexBox Platform

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