Saudi Arabia: Frozen Fish Market 2024

Frozen Fish Market Size in Saudi Arabia

In 2022, the Saudi frozen fish market increased by X% to $X for the first time since 2019, thus ending a two-year declining trend. Over the period under review, consumption, however, recorded a slight shrinkage. Frozen fish consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Frozen Fish Production in Saudi Arabia

In value terms, frozen fish production reduced slightly to $X in 2022 estimated in export price. In general, production continues to indicate a noticeable downturn. The growth pace was the most rapid in 2015 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Frozen Fish Exports

Exports from Saudi Arabia

In 2022, the amount of frozen fish exported from Saudi Arabia contracted significantly to X tons, reducing by X% on the previous year. Overall, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, frozen fish exports declined sharply to $X in 2022. In general, exports, however, enjoyed a noticeable increase. The growth pace was the most rapid in 2017 when exports increased by X%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for frozen fish exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, frozen fish exports to Bahrain exceeded the volume sent to the second major destination, Australia (X tons), more than tenfold. South Africa (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 Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and South Africa (X% per year).

In value terms, Bahrain ($X) remains the key foreign market for frozen fish exports from Saudi Arabia, comprising X% of total exports. The second position in the ranking was taken by Australia ($X), with a X% share of total exports. It was followed by South Africa, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Bahrain totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (X% per year) and South Africa (X% per year).

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, falling by X% against the previous year. In general, export price indicated a noticeable expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, frozen fish export price decreased by X% against 2018 indices. The most prominent rate of growth was recorded in 2015 when the average export price increased by X%. Over the period under review, the average export prices hit record highs at $X per ton in 2021, and then fell sharply in the following year.

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 Malaysia ($X per ton), while the average price for exports to the United Arab Emirates ($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 Indonesia (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Saudi Arabia

In 2022, the amount of frozen fish imported into Saudi Arabia shrank to X tons, flattening at the previous year. In general, imports saw a relatively flat trend pattern. The growth pace was the most rapid in 2014 when imports increased by X%. Imports peaked at X tons in 2015; however, from 2016 to 2022, imports remained at a lower figure.

In value terms, frozen fish imports rose slightly to $X in 2022. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Myanmar (X tons) constituted the largest frozen fish supplier to Saudi Arabia, with a X% share of total imports. Moreover, frozen fish imports from Myanmar exceeded the figures recorded by the second-largest supplier, Thailand (X tons), fourfold. Taiwan (Chinese) (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Myanmar stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (X% per year) and Taiwan (Chinese) (X% per year).

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

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

Import Prices by Country

In 2022, the average frozen fish import price amounted to $X per ton, rising by X% against the previous year. Overall, the import price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure at $X per ton in 2019; however, from 2020 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 Bangladesh ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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