Sri Lanka: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Sri Lanka

The Sri Lankan inedible fish products market reduced slightly to $X in 2022, leveling off at the previous year. Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.9% 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 +1.3% against 2020 indices. Over the period under review, the market attained the peak level at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Inedible Fish Products Production in Sri Lanka

In value terms, inedible fish products production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, showed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 49% against the previous year. Inedible fish products production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Inedible Fish Products Exports

Exports from Sri Lanka

In 2022, the amount of inedible fish products exported from Sri Lanka fell significantly to X kg, with a decrease of -82.2% against the previous year's figure. Over the period under review, exports saw a deep slump. The most prominent rate of growth was recorded in 2014 when exports increased by 1,326% against the previous year. As a result, the exports reached the peak of X tons. From 2015 to 2022, the growth of the exports failed to regain momentum.

In value terms, inedible fish products exports reduced notably to $X in 2022. In general, exports, however, showed strong growth. The most prominent rate of growth was recorded in 2014 with an increase of 949%. As a result, the exports attained the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Germany (X kg) was the main destination for inedible fish products exports from Sri Lanka, with a 87% share of total exports. Moreover, inedible fish products exports to Germany exceeded the volume sent to the second major destination, Maldives (X kg), sixfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Germany amounted to +67.0%.

In value terms, Germany ($X) emerged as the key foreign market for inedible fish products exports from Sri Lanka, comprising 95% of total exports. The second position in the ranking was held by Maldives ($X), with a 4.9% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to Germany stood at +73.0%.

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, surging by 334% against the previous year. Overall, the export price showed significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Maldives stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Korea (+15.9%), while the prices for the other major destinations experienced more modest paces of growth.

Inedible Fish Products Imports

Imports into Sri Lanka

After two years of decline, supplies from abroad of inedible fish products increased by 33% to X tons in 2022. In general, imports recorded a buoyant expansion. The pace of growth was the most pronounced in 2019 with an increase of 1,272%. Over the period under review, imports attained the maximum at X tons in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

In value terms, inedible fish products imports dropped remarkably to $X in 2022. Over the period under review, imports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 with an increase of 1,065% against the previous year. As a result, imports attained the peak of $X. From 2020 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Seychelles (X tons) was the main inedible fish products supplier to Sri Lanka, accounting for a 96% share of total imports. It was followed by China (X tons), with a 2.4% share of total imports.

From 2012 to 2022, the average annual growth rate of volume from Seychelles was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: China (-23.0% per year) and Indonesia (+6.1% per year).

In value terms, the largest inedible fish products suppliers to Sri Lanka were China ($X), Seychelles ($X) and Indonesia ($X), with a combined 46% share of total imports.

Among the main suppliers, Indonesia, with a CAGR of +12.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average inedible fish products import price amounted to $X per ton, shrinking by -89.7% against the previous year. Over the period under review, the import price continues to indicate a abrupt descent. The pace of growth appeared the most rapid in 2016 when the average import price increased by 30% against the previous year. The import price peaked at $X per ton in 2021, and then reduced markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Indonesia ($X per ton), while the price for Seychelles ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Indonesia (+6.4%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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