Venezuela: Market for Frozen Fish and Seafood 2024

Market Size for Frozen Fish and Seafood in Venezuela

The Venezuelan frozen fish and seafood market rose notably to $X in 2023, increasing by X% against the previous year. In general, consumption, however, continues to indicate a noticeable decrease. Over the period under review, the market attained the maximum level at $X in 2014; however, from 2015 to 2023, consumption failed to regain momentum.

Production of Frozen Fish and Seafood in Venezuela

In value terms, frozen fish and seafood production rose markedly to $X in 2023 estimated in export price. Overall, the total production indicated a buoyant expansion 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, production decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth remained at a somewhat lower figure.

Exports of Frozen Fish and Seafood

Exports from Venezuela

In 2023, after seven years of growth, there was significant decline in overseas shipments of frozen fish and seafood, when their volume decreased by X% to X tons. In general, exports, however, posted a strong expansion. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, the exports reached the peak figure at X tons in 2022, and then dropped in the following year.

In value terms, frozen fish and seafood exports contracted to $X in 2023. Overall, exports, however, continue to indicate a buoyant increase. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2022, and then declined in the following year.

Exports by Country

The Netherlands (X tons), Guatemala (X tons) and the United States (X tons) were the main destinations of frozen fish and seafood exports from Venezuela, together accounting for X% of total exports. Malaysia and Turkey lagged somewhat behind, together comprising a further X%.

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

In value terms, the Netherlands ($X) remains the key foreign market for frozen fish and seafood exports from Venezuela, comprising X% of total exports. The second position in the ranking was held by the United States ($X), with a X% share of total exports. It was followed by Guatemala, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to the Netherlands totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Guatemala (X% per year).

Export Prices by Country

The average frozen fish and seafood export price stood at $X per ton in 2023, therefore, remained relatively stable against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2015 to 2023, the average export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Guatemala ($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 China (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Frozen Fish and Seafood

Imports into Venezuela

In 2023, supplies from abroad of frozen fish and seafood decreased by X% to X tons for the first time since 2018, thus ending a four-year rising trend. Over the period under review, imports faced a deep contraction. The pace of growth was the most pronounced in 2019 with an increase of X%. Imports peaked at X tons in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen fish and seafood imports shrank dramatically to $X in 2023. In general, imports recorded a abrupt downturn. The most prominent rate of growth was recorded in 2022 when imports increased by X%. Imports peaked at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

Chile (X tons), the United States (X tons) and Uruguay (X tons) were the main suppliers of frozen fish and seafood imports to Venezuela, with a combined X% share of total imports. These countries were followed by Malaysia, which accounted for a further X%.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of X%), while imports for the other leaders experienced a decline.

In value terms, Chile ($X) constituted the largest supplier of frozen fish and seafood to Venezuela, comprising X% of total imports. The second position in the ranking was taken by the United States ($X), with a X% share of total imports. It was followed by Uruguay, with a X% share.

From 2012 to 2023, the average annual growth rate of value from Chile totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Uruguay (X% per year).

Import Prices by Country

In 2023, the average frozen fish and seafood import price amounted to $X per ton, which is down by X% against the previous year. Overall, the import price, however, recorded a slight increase. The most prominent rate of growth was recorded in 2018 an increase of X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a somewhat lower figure.

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

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

Source: IndexBox Platform