Venezuela: Market for Dried Or Smoked Fish 2024

Market Size for Dried Or Smoked Fish in Venezuela

The Venezuelan dried or smoked fish market rose slightly to $X in 2021, surging by 1.7% against the previous year. Over the period under review, the total consumption indicated resilient growth from 2012 to 2021: its value increased at an average annual rate of +9.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -3.0% against 2019 indices. Over the period under review, the market reached the maximum level at $X in 2019; however, from 2020 to 2021, consumption failed to regain momentum.

Production of Dried Or Smoked Fish in Venezuela

In value terms, dried or smoked fish production expanded modestly to $X in 2021 estimated in export price. Overall, production, however, saw a resilient increase. The most prominent rate of growth was recorded in 2015 with an increase of 41% against the previous year. Dried or smoked fish production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Exports of Dried Or Smoked Fish

Exports from Venezuela

In 2021, after seven years of decline, there was significant growth in overseas shipments of dried or smoked fish, when their volume increased by 37% to X tons. Overall, exports, however, saw a abrupt decline. Over the period under review, the exports attained the peak figure at X tons in 2013; however, from 2014 to 2021, the exports stood at a somewhat lower figure.

In value terms, dried or smoked fish exports rose significantly to $X in 2021. Over the period under review, exports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 42%. As a result, the exports reached the peak of $X. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Hong Kong SAR (X tons) was the main destination for dried or smoked fish exports from Venezuela, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Hong Kong SAR totaled -16.4%.

In value terms, Hong Kong SAR ($X) also remains the key foreign market for dried or smoked fish exports from Venezuela.

From 2012 to 2021, the average annual growth rate of value to Hong Kong SAR was relatively modest.

Export Prices by Country

The average dried or smoked fish export price stood at $X per ton in 2021, waning by -22.4% against the previous year. Overall, the export price, however, showed a strong increase. The most prominent rate of growth was recorded in 2014 an increase of 74% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices failed to regain momentum.

As there is only one major export destination, the average price level is determined by prices for Hong Kong SAR.

From 2012 to 2021, the rate of growth in terms of prices for Hong Kong SAR amounted to +18.6% per year.

Imports of Dried Or Smoked Fish

Imports into Venezuela

In 2021, purchases abroad of dried or smoked fish decreased by -46% to X tons, falling for the second consecutive year after three years of growth. Overall, imports recorded a abrupt descent. The pace of growth appeared the most rapid in 2019 with an increase of 340% against the previous year. Imports peaked at X tons in 2013; however, from 2014 to 2021, imports failed to regain momentum.

In value terms, dried or smoked fish imports declined dramatically to $X in 2021. Over the period under review, imports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 with an increase of 391%. Imports peaked at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of dried or smoked fish to Venezuela, with a 52% share of total imports. Moreover, dried or smoked fish imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. The third position in this ranking was taken by Portugal (X tons), with a 6.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +54.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+75.2% per year) and Portugal (-11.6% per year).

In value terms, China ($X) constituted the largest supplier of dried or smoked fish to Venezuela, comprising 42% of total imports. The second position in the ranking was held by Portugal ($X), with a 15% share of total imports. It was followed by Norway, with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of value from China stood at +38.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Portugal (-8.2% per year) and Norway (-27.1% per year).

Import Prices by Country

The average dried or smoked fish import price stood at $X per ton in 2021, increasing by 23% against the previous year. In general, the import price, however, showed a pronounced reduction. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Norway ($X per ton), while the price for the United States ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Norway (+5.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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