Cyprus: Market for Frozen Fish And Seafood 2019

Market Size for Frozen Fish And Seafood in Cyprus

The revenue of the frozen fish and seafood market in Cyprus amounted to $X in 2018, shrinking by -X% against the previous year. Overall, frozen fish and seafood consumption, however, continues to indicate a tangible expansion. The growth pace was the most rapid in 2017 when the market value increased by X% y-o-y. In that year, the frozen fish and seafood market attained its peak level of $X, and then declined slightly in the following year.

Production of Frozen Fish And Seafood in Cyprus

In value terms, frozen fish and seafood production stood at $X in 2018 estimated in export prices. In general, frozen fish and seafood production continues to indicate a precipitous setback. The most prominent rate of growth was recorded in 2009 with an increase of X% against the previous year. Over the period under review, frozen fish and seafood production reached its maximum level at $X in 2011; however, from 2012 to 2018, production failed to regain its momentum.

Exports of Frozen Fish And Seafood

Exports from Cyprus

In 2018, approx. X tons of frozen fish and seafood were exported from Cyprus; shrinking by -X% against the previous year. Overall, frozen fish and seafood exports, however, continue to indicate prominent growth. The most prominent rate of growth was recorded in 2008 when exports increased by X% y-o-y. Over the period under review, frozen fish and seafood exports reached their maximum at X tons in 2012; however, from 2013 to 2018, exports remained at a lower figure.

In value terms, frozen fish and seafood exports stood at $X in 2018. Overall, frozen fish and seafood exports, however, continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2010 with an increase of X% y-o-y. Over the period under review, frozen fish and seafood exports reached their maximum at $X in 2011; however, from 2012 to 2018, exports stood at a somewhat lower figure.

Exports by Country

In 2018, China (X tons), distantly followed by Russia (X tons), the U.S. (X tons), Norway (X tons) and the Netherlands (X tons) were the main exporters of frozen fish and seafood, together committing X% of total exports. The following exporters - Taiwan, Chinese (X tons), Japan (X tons), Spain (X tons), India (X tons), Chile (X tons), Germany (X tons) and Namibia (X tons) - together made up X% of total exports.

China was also the fastest-growing in terms of the frozen fish and seafood exports, with a CAGR of +X% from 2007 to 2018. At the same time, Germany (+X%), India (+X%), Namibia (+X%), Russia (+X%), the Netherlands (+X%), Taiwan, Chinese (+X%) and the U.S. (+X%) displayed positive paces of growth. Japan, Spain, Norway and Chile experienced a relatively flat trend pattern. China (+X p.p.), Russia (+X p.p.), the Netherlands (+X p.p.) and Germany (+X p.p.) significantly strengthened its position in terms of the global exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X) remains the largest frozen fish and seafood supplier from Cyprus, comprising X% of global exports. The second position in the ranking was occupied by Russia ($X), with a X% share of global exports. It was followed by the U.S., with a X% share.

In China, frozen fish and seafood exports increased at an average annual rate of +X% over the period from 2007-2018. In the other countries, the average annual rates were as follows: Russia (+X% per year) and the U.S. (+X% per year).

Export Prices by Country

In 2018, the frozen fish and seafood export price in Cyprus amounted to $X per ton, waning by -X% against the previous year. In general, the frozen fish and seafood export price continues to indicate a drastic reduction. The pace of growth was the most pronounced in 2010 when the export price increased by X% y-o-y. Over the period under review, the export prices for frozen fish and seafood reached their maximum at $X per ton in 2011; however, from 2012 to 2018, export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2018, the country with the highest price was China ($X per ton), while Norway ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by China, while the other leaders experienced more modest paces of growth.

Imports of Frozen Fish And Seafood

Imports into Cyprus

In 2018, the imports of frozen fish and seafood into Cyprus totaled X tons, waning by -X% against the previous year. Over the period under review, frozen fish and seafood imports, however, continue to indicate a perceptible increase. The most prominent rate of growth was recorded in 2012 with an increase of X% year-to-year. Over the period under review, frozen fish and seafood imports attained their maximum at X tons in 2017, and then declined slightly in the following year.

In value terms, frozen fish and seafood imports totaled $X in 2018. In general, frozen fish and seafood imports, however, continue to indicate a remarkable expansion. The growth pace was the most rapid in 2012 with an increase of X% y-o-y. Over the period under review, frozen fish and seafood imports reached their peak figure at $X in 2017, and then declined slightly in the following year.

Imports by Country

In 2018, China (X tons), Japan (X tons) and Thailand (X tons) represented the main importers of frozen fish and seafood in the world, creating X% of total import. It was distantly followed by South Korea (X tons), comprising a X% share of total imports. The following importers - Vietnam (X tons), Nigeria (X tons), Spain (X tons), the Netherlands (X tons), Germany (X tons), Cameroon (X tons), Ukraine (X tons) and the Philippines (X tons) - together made up X% of total imports.

From 2007 to 2018, the most notable rate of growth in terms of imports, amongst the main importing countries, was attained by Vietnam, while the other leaders experienced more modest paces of growth.

In value terms, Japan ($X) constitutes the largest market for imported frozen fish and seafood into Cyprus, comprising X% of global imports. The second position in the ranking was occupied by China ($X), with a X% share of global imports. It was followed by Thailand, with a X% share.

From 2007 to 2018, the average annual growth rate of value in Japan amounted to +X%. The remaining importing countries recorded the following average annual rates of imports growth: China (+X% per year) and Thailand (+X% per year).

Import Prices by Country

In 2018, the frozen fish and seafood import price in Cyprus amounted to $X per ton, jumping by X% against the previous year. Over the period under review, the import price indicated a mild increase from 2007 to 2018: its price 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. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. Over the period under review, the import prices for frozen fish and seafood reached their peak figure at $X per ton in 2011; however, from 2012 to 2018, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2018, the country with the highest price was Germany ($X per ton), while Nigeria ($X per ton) was amongst the lowest.

From 2007 to 2018, the most notable rate of growth in terms of prices was attained by the Philippines, while the other leaders experienced more modest paces of growth.

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Source: IndexBox Platform