Sri Lanka: Frozen Fish Market 2024

Frozen Fish Market Size in Sri Lanka

The Sri Lankan frozen fish market contracted rapidly to $X in 2022, falling by X% against the previous year. In general, consumption continues to indicate a abrupt contraction. As a result, consumption reached the peak level of $X. From 2018 to 2022, the growth of the market remained at a somewhat lower figure.

Frozen Fish Production in Sri Lanka

In value terms, frozen fish production shrank to $X in 2022 estimated in export price. In general, production, however, showed a deep downturn. The most prominent rate of growth was recorded in 2017 when the production volume increased by X% against the previous year. Frozen fish production peaked at $X in 2012; however, from 2013 to 2022, production remained at a lower figure.

Frozen Fish Exports

Exports from Sri Lanka

In 2022, the amount of frozen fish exported from Sri Lanka soared to X tons, surging by X% against the previous year. Overall, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, frozen fish exports skyrocketed to $X in 2022. Over the period under review, exports saw a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The Netherlands (X tons), Taiwan (Chinese) (X tons) and Italy (X tons) were the main destinations of frozen fish exports from Sri Lanka, with a combined X% share of total exports.

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

In value terms, the Netherlands ($X), France ($X) and the UK ($X) appeared to be the largest markets for frozen fish exported from Sri Lanka worldwide, together accounting for X% of total exports.

Among the main countries of destination, the Netherlands, with a CAGR of X%, saw the highest growth rate of the value of exports, 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 export price amounted to $X per ton, picking up by X% against the previous year. Overall, the export price, however, saw a perceptible downturn. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to Taiwan (Chinese) ($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 Sri Lanka

For the fourth consecutive year, Sri Lanka recorded decline in overseas purchases of frozen fish, which decreased by X% to X tons in 2022. Overall, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2013 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 declined rapidly to $X in 2022. In general, imports continue to indicate a abrupt decline. The pace of growth was the most pronounced in 2013 when imports increased by X% against the previous year. Imports peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of frozen fish to Sri Lanka, with a X% share of total imports. Moreover, frozen fish imports from China exceeded the figures recorded by the second-largest supplier, Taiwan (Chinese) (X tons), threefold. The third position in this ranking was taken by Iran (X tons), with a X% share.

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

In value terms, China ($X) constituted the largest supplier of frozen fish to Sri Lanka, comprising X% of total imports. The second position in the ranking was taken by Taiwan (Chinese) ($X), with a X% share of total imports. It was followed by Maldives, with a X% share.

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

Import Prices by Country

The average frozen fish import price stood at $X per ton in 2022, declining by X% against the previous year. In general, the import price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2020 to 2022, the average import prices remained at a lower figure.

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 Maldives ($X per ton), while the price for Yemen ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :