Pakistan: Market for Fish Fillets and Other Fish Meat 2024

Market Size for Fish Fillets and Other Fish Meat in Pakistan

The Pakistani market for fish fillets and other fish meat expanded notably to $X in 2022, with an increase of 6% against the previous year. Overall, consumption saw a resilient expansion. Consumption of peaked at $X in 2016; however, from 2017 to 2022, consumption stood at a somewhat lower figure.

Production of Fish Fillets and Other Fish Meat in Pakistan

In value terms, production of fish fillets and other fish meat reached $X in 2022 estimated in export price. The total output value increased at an average annual rate of +3.0% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2016 when the production volume increased by 11%. As a result, production reached the peak level of $X. From 2017 to 2022, production of growth failed to regain momentum.

Exports of Fish Fillets and Other Fish Meat

Exports from Pakistan

In 2022, exports of fish fillets and other fish meat from Pakistan contracted to X tons, reducing by -5.9% against 2021. Over the period under review, total exports indicated noticeable growth from 2012 to 2022: its volume increased at an average annual rate of +3.7% 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 +23.9% against 2020 indices. The growth pace was the most rapid in 2017 with an increase of 118%. As a result, the exports attained the peak of X tons. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of fish fillets and other fish meat shrank to $X in 2022. In general, exports, however, showed prominent growth. The pace of growth appeared the most rapid in 2017 with an increase of 89% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Thailand (X tons), South Korea (X tons) and Japan (X tons) were the main destinations of exports of fish fillets and other fish meat from Pakistan, together comprising 67% of total exports. China, Vietnam, Singapore and Malaysia lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +24.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for fish fillets and other fish meat exported from Pakistan were Thailand ($X), South Korea ($X) and Vietnam ($X), together comprising 64% of total exports. Japan, China, Singapore and Malaysia lagged somewhat behind, together comprising a further 33%.

Singapore, with a CAGR of +27.4%, recorded the highest rates of growth with regard to the value of exports, among 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 export price for fish fillets and other fish meat amounted to $X per ton, remaining relatively unchanged against the previous year. Over the last decade, it increased at an average annual rate of +3.2%. The most prominent rate of growth was recorded in 2021 when the average export price increased by 20% against the previous year. The export price peaked at $X per ton in 2016; however, from 2017 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to China ($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 Vietnam (+9.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fish Fillets and Other Fish Meat

Imports into Pakistan

In 2022, approx. X tons of fish fillets and other fish meat were imported into Pakistan; shrinking by -11% on 2021 figures. Over the period under review, imports, however, saw a buoyant increase. The growth pace was the most rapid in 2016 with an increase of 928% against the previous year. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, imports of fish fillets and other fish meat dropped to $X in 2022. Overall, imports, however, saw a strong increase. The pace of growth was the most pronounced in 2016 with an increase of 686% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Vietnam (X tons) was the main fish fillets and other fish meat supplier to Pakistan, with a approx. 100% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Vietnam stood at +19.4%.

In value terms, Vietnam ($X) constituted the largest supplier of fish fillets and other fish meat to Pakistan.

From 2012 to 2022, the average annual growth rate of value from Vietnam amounted to +11.1%.

Import Prices by Country

The average import price for fish fillets and other fish meat stood at $X per ton in 2022, stabilizing at the previous year. Overall, the import price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2014 an increase of 44% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2022, the average import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Vietnam.

From 2012 to 2022, the rate of growth in terms of prices for Vietnam amounted to -7.0% per year.

Source: IndexBox Platform

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