Serbia: Market for Frozen Fish And Seafood 2024

Market Size for Frozen Fish And Seafood in Serbia

The Serbian frozen fish and seafood market skyrocketed to $X in 2022, rising by X% against the previous year. Overall, the total consumption indicated a tangible expansion from 2012 to 2022: its value 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, consumption increased by X% against 2017 indices. Frozen fish and seafood consumption peaked in 2022 and is likely to see gradual growth in years to come.

Production of Frozen Fish And Seafood in Serbia

In value terms, frozen fish and seafood production rose notably to $X in 2022 estimated in export price. Overall, the total production indicated resilient growth from 2012 to 2022: its value 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, production decreased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X%. Frozen fish and seafood production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Exports of Frozen Fish And Seafood

Exports from Serbia

After three years of growth, shipments abroad of frozen fish and seafood decreased by X% to X tons in 2022. In general, exports, however, saw significant growth. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. The exports peaked at X tons in 2021, and then reduced in the following year.

In value terms, frozen fish and seafood exports surged to $X in 2022. Over the period under review, exports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2016 when exports increased by X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Italy (X tons) was the main destination for frozen fish and seafood exports from Serbia, accounting for a X% share of total exports. Moreover, frozen fish and seafood exports to Italy exceeded the volume sent to the second major destination, Montenegro (X tons), sevenfold. The third position in this ranking was held by North Macedonia (X tons), with an X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Italy stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and North Macedonia (X% per year).

In value terms, Italy ($X) remains the key foreign market for frozen fish and seafood exports from Serbia, comprising X% of total exports. The second position in the ranking was taken by Montenegro ($X), with a X% share of total exports. It was followed by North Macedonia, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Italy totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Montenegro (X% per year) and North Macedonia (X% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2022, increasing by X% against the previous year. Overall, the export price posted a buoyant expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by X% against the previous year. The export price peaked in 2022 and is likely to see steady growth in years to come.

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

Imports of Frozen Fish And Seafood

Imports into Serbia

In 2022, purchases abroad of frozen fish and seafood increased by X% to X tons, rising for the second year in a row after two years of decline. In general, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2018 when imports increased by X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, frozen fish and seafood imports skyrocketed to $X in 2022. Overall, total imports indicated a mild expansion from 2012 to 2022: its value 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, imports increased by X% against 2020 indices. The growth pace was the most rapid in 2018 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in years to come.

Imports by Country

In 2022, Spain (X tons) constituted the largest supplier of frozen fish and seafood to Serbia, accounting for a X% share of total imports. Moreover, frozen fish and seafood imports from Spain exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. Argentina (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, Spain ($X) constituted the largest supplier of frozen fish and seafood to Serbia, comprising X% of total imports. The second position in the ranking was held by Argentina ($X), with an X% share of total imports. It was followed by Vietnam, with an X% share.

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

Import Prices by Country

In 2022, the average frozen fish and seafood import price amounted to $X per ton, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2021 when the average import price increased by X%. The import price peaked in 2022 and is likely to see steady growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Turkey ($X per ton), while the price for Poland ($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