Latvia: Market for Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine 2024

Market Size for Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine in Latvia

The Latvian market for prepared or preserved fish and dishes other than dried, smoked, salted or in brine soared to $X in 2023, surging by X% against the previous year. Over the period under review, consumption showed a slight descent. Consumption of peaked at $X in 2013; however, from 2014 to 2023, consumption remained at a lower figure.

Production of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine in Latvia

In value terms, production of prepared or preserved fish and dishes other than dried, smoked, salted or in brine surged to $X in 2023 estimated in export price. In general, production, however, recorded a deep setback. Production of peaked at $X in 2013; however, from 2014 to 2023, production failed to regain momentum.

Exports of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

Exports from Latvia

In 2023, approx. X tons of prepared or preserved fish and dishes other than dried, smoked, salted or in brine were exported from Latvia; shrinking by X% against the previous year. Overall, exports continue to indicate a noticeable contraction. The most prominent rate of growth was recorded in 2022 when exports increased by X%. Over the period under review, the exports of attained the maximum at X tons in 2013; however, from 2014 to 2023, the exports failed to regain momentum.

In value terms, exports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine rose significantly to $X in 2023. In general, total exports indicated notable growth from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, exports increased by X% against 2016 indices. The pace of growth was the most pronounced in 2020 with an increase of X% against the previous year. Over the period under review, the exports of hit record highs in 2023 and are expected to retain growth in the near future.

Exports by Country

Germany (X tons), Ukraine (X tons) and Sweden (X tons) were the main destinations of exports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine from Latvia, together comprising X% of total exports.

From 2012 to 2023, the biggest increases were recorded for Sweden (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Ukraine ($X) and Lithuania ($X) appeared to be the largest markets for prepared or preserved fish and dishes exported from Latvia worldwide, together comprising X% of total exports. The United States, Estonia, Poland, Denmark, Sweden, Moldova, the Czech Republic, Israel, Uzbekistan and Azerbaijan lagged somewhat behind, together comprising a further X%.

Poland, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for prepared or preserved fish and dishes other than dried, smoked, salted or in brine stood at $X per ton in 2023, increasing by X% against the previous year. Over the period under review, the export price continues to indicate a buoyant expansion. The pace of growth was the most pronounced in 2016 when the average export price increased by X% against the previous year. Over the period under review, the average export prices attained the peak figure in 2023 and is likely to see steady growth in years to come.

There were significant differences in the average prices for the major overseas markets. In 2023, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Uzbekistan ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Azerbaijan (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Prepared or Preserved Fish and Dishes other than Dried, Smoked, Salted or in Brine

Imports into Latvia

In 2023, after two years of growth, there was significant decline in purchases abroad of prepared or preserved fish and dishes other than dried, smoked, salted or in brine, when their volume decreased by X% to X tons. In general, imports, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2022 with an increase of X%. As a result, imports attained the peak of X tons, and then contracted rapidly in the following year.

In value terms, imports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine reached $X in 2023. Overall, total imports indicated a measured increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports increased by X% against 2016 indices. The most prominent rate of growth was recorded in 2021 when imports increased by X%. Over the period under review, imports of hit record highs in 2023 and are likely to continue growth in years to come.

Imports by Country

In 2023, Lithuania (X tons) constituted the largest supplier of prepared or preserved fish and dishes to Latvia, accounting for a X% share of total imports. Moreover, imports of prepared or preserved fish and dishes other than dried, smoked, salted or in brine from Lithuania exceeded the figures recorded by the second-largest supplier, Poland (X tons), fivefold. Germany (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2023, the average annual growth rate of volume from Lithuania was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Germany (X% per year).

In value terms, Lithuania ($X) constituted the largest supplier of prepared or preserved fish and dishes other than dried, smoked, salted or in brine to Latvia, comprising X% of total imports. The second position in the ranking was taken by Poland ($X), with a X% share of total imports. It was followed by Denmark, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (X% per year) and Denmark (X% per year).

Import Prices by Country

In 2023, the average import price for prepared or preserved fish and dishes other than dried, smoked, salted or in brine amounted to $X per ton, rising by X% against the previous year. Over the period from 2012 to 2023, it increased at an average annual rate of X%. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Denmark (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform