United Arab Emirates: Fresh Fish Fillet Market 2024

Fresh Fish Fillet Market Size in the United Arab Emirates

In 2021, the fresh fish fillet market in the United Arab Emirates decreased by -4.8% to $X, falling for the second consecutive year after six years of growth. Overall, consumption, however, continues to indicate a resilient expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market failed to regain momentum.

Fresh Fish Fillet Production in the United Arab Emirates

In value terms, fresh fish fillet production declined modestly to $X in 2021 estimated in export price. In general, production, however, continues to indicate a buoyant expansion. The pace of growth appeared the most rapid in 2014 when the production volume increased by 61% against the previous year. Fresh fish fillet production peaked at $X in 2020, and then contracted in the following year.

Fresh Fish Fillet Exports

Exports from the United Arab Emirates

In 2021, after two years of growth, there was significant decline in shipments abroad of fresh or chilled fish fillets, when their volume decreased by -59.9% to X tons. In general, exports, however, recorded a mild expansion. The growth pace was the most rapid in 2020 when exports increased by 105% against the previous year. As a result, the exports attained the peak of X tons, and then fell markedly in the following year.

In value terms, fresh fish fillet exports dropped significantly to $X in 2021. Overall, exports, however, posted a prominent expansion. The pace of growth was the most pronounced in 2020 with an increase of 59%. As a result, the exports attained the peak of $X, and then reduced rapidly in the following year.

Exports by Country

Saudi Arabia (X tons) was the main destination for fresh fish fillet exports from the United Arab Emirates, accounting for a 65% share of total exports. Moreover, fresh fish fillet exports to Saudi Arabia exceeded the volume sent to the second major destination, Oman (X tons), fourfold. The third position in this ranking was taken by Maldives (X tons), with a 9.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Saudi Arabia totaled +3.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-7.5% per year) and Maldives (+32.6% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for fresh or chilled fish fillets exports from the United Arab Emirates, comprising 52% of total exports. The second position in the ranking was held by Maldives ($X), with a 19% share of total exports. It was followed by Oman, with a 17% share.

From 2012 to 2021, the average annual growth rate of value to Saudi Arabia stood at +10.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Maldives (+23.6% per year) and Oman (-3.5% per year).

Export Prices by Country

In 2021, the average fresh fish fillet export price amounted to $X per ton, surging by 62% against the previous year. Over the period under review, export price indicated a resilient expansion from 2012 to 2021: its price increased at an average annual rate of +6.2% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Maldives ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+9.6%), while the prices for the other major destinations experienced more modest paces of growth.

Fresh Fish Fillet Imports

Imports into the United Arab Emirates

In 2021, supplies from abroad of fresh or chilled fish fillets decreased by -62.2% to X tons, falling for the second year in a row after two years of growth. Over the period under review, imports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2013 with an increase of 123% against the previous year. As a result, imports reached the peak of X tons. From 2014 to 2021, the growth of imports remained at a lower figure.

In value terms, fresh fish fillet imports declined markedly to $X in 2021. In general, imports recorded a noticeable downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 77%. Over the period under review, imports attained the peak figure at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

Norway (X tons), Kenya (X tons) and the Netherlands (X tons) were the main suppliers of fresh fish fillet imports to the United Arab Emirates, together comprising 31% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Netherlands (with a CAGR of +134.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest fresh fish fillet suppliers to the United Arab Emirates were Spain ($X), Norway ($X) and the Netherlands ($X), with a combined 35% share of total imports. These countries were followed by New Zealand, Kenya, Tanzania, Maldives, the United States, India and Oman, which together accounted for a further 20%.

New Zealand, with a CAGR of +128.0%, saw the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average fresh fish fillet import price stood at $X per ton in 2021, rising by 36% against the previous year. Over the last nine-year period, it increased at an average annual rate of +3.0%. The pace of growth was the most pronounced in 2014 when the average import price increased by 36%. Over the period under review, average import prices attained the peak figure in 2021 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Spain ($X per ton), while the price for Oman ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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