Panama: Frozen Fish Market 2024

Frozen Fish Market Size in Panama

The Panamanian frozen fish market dropped slightly to $X in 2022, which is down by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Frozen fish consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Frozen Fish Production in Panama

In value terms, frozen fish production declined to $X in 2022 estimated in export price. Over the period under review, production showed a relatively flat trend pattern. The growth pace was the most rapid in 2013 when the production volume increased by X%. Frozen fish production peaked at $X in 2014; however, from 2015 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Panama

In 2022, after three years of decline, there was growth in shipments abroad of frozen fish, when their volume increased by X% to X tons. Over the period under review, exports posted a significant expansion. The most prominent rate of growth was recorded in 2016 when exports increased by X,410%. As a result, the exports attained the peak of X tons. From 2017 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, frozen fish exports skyrocketed to $X in 2022. Overall, exports continue to indicate a significant increase. The pace of growth appeared the most rapid in 2016 when exports increased by X,318%. As a result, the exports reached the peak of $X. From 2017 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen fish exports from Panama, with a X% share of total exports. Moreover, frozen fish exports to the United States exceeded the volume sent to the second major destination, the Dominican Republic (X tons), sevenfold. Colombia (X tons) ranked third in terms of total exports with a X% share.

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

In value terms, the United States ($X) remains the key foreign market for frozen fish exports from Panama, comprising X% of total exports. The second position in the ranking was taken by Colombia ($X), with a X% share of total exports. It was followed by Costa Rica, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United States stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Colombia (X% per year) and Costa Rica (X% per year).

Export Prices by Country

In 2022, the average frozen fish export price amounted to $X per ton, rising by X% against the previous year. In general, the export price, however, recorded a abrupt contraction. The most prominent rate of growth was recorded in 2013 an increase of X%. As a result, the export price attained the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a somewhat lower figure.

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

Frozen Fish Imports

Imports into Panama

In 2022, approx. X tons of frozen fish were imported into Panama; waning by X% on 2021 figures. Over the period under review, imports, however, enjoyed significant growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, frozen fish imports expanded notably to $X in 2022. In general, imports, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of X%. Imports peaked in 2022 and are expected to retain growth in the immediate term.

Imports by Country

Vietnam (X tons), Chile (X tons) and Mexico (X tons) were the main suppliers of frozen fish imports to Panama, with a combined X% share of total imports. China, Japan and the United States lagged somewhat behind, together comprising a further X%.

From 2013 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of frozen fish to Panama, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by Mexico, with a X% share.

From 2013 to 2022, the average annual growth rate of value from Chile stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Mexico (X% per year).

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, increasing by X% against the previous year. In general, the import price saw a notable expansion. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

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 2013 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform