GCC: Market for Cod, Salted or in Brine 2024

Market Size for Cod, Salted or in Brine in GCC

The GCC market for cod, salted or in brine fell to $X in 2022, declining by X% against the previous year. The total consumption indicated strong growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Production of Cod, Salted or in Brine in GCC

In value terms, cod, salted or in brine production shrank to $X in 2022 estimated in export price. The total production indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2015 with an increase of X%. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Cod, Salted or in Brine

Exports in GCC

In 2022, overseas shipments of cod, salted or in brine decreased by X% to X kg for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, recorded a resilient increase. The pace of growth was the most pronounced in 2021 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons, and then declined significantly in the following year.

In value terms, cod, salted or in brine exports shrank notably to $X in 2022. Overall, exports continue to indicate a perceptible decline. The most prominent rate of growth was recorded in 2021 when exports increased by X%. As a result, the exports attained the peak of $X, and then fell dramatically in the following year.

Exports by Country

The shipments of the one major exporters of cod, salted or in brine, namely the United Arab Emirates, represented more than two-thirds of total export.

The United Arab Emirates was also the fastest-growing in terms of the cod, salted or in brine exports, with a CAGR of X% from 2012 to 2022. The shares of the largest exporters remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest cod, salted or in brine supplier in GCC.

In the United Arab Emirates, cod, salted or in brine exports shrank by an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, with a decrease of X% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2021 an increase of X%. As a result, the export price attained the peak level of $X per ton, and then fell remarkably in the following year.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Imports of Cod, Salted or in Brine

Imports in GCC

In 2022, supplies from abroad of cod, salted or in brine increased by X% to X tons for the first time since 2015, thus ending a six-year declining trend. In general, imports enjoyed significant growth. The volume of import peaked at X tons in 2015; afterwards, it flattened through to 2022.

In value terms, cod, salted or in brine imports soared to $X in 2022. Over the period under review, imports recorded a buoyant expansion. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Qatar was the key importing country with an import of around X tons, which accounted for X% of total imports. It was distantly followed by Kuwait (X tons), comprising a X% share of total imports. The United Arab Emirates (X kg) followed a long way behind the leaders.

Qatar experienced a relatively flat trend pattern with regard to volume of imports of cod, salted or in brine. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, the United Arab Emirates (X%) illustrated a downward trend over the same period. While the share of Qatar (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, Qatar ($X), Kuwait ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, shrinking by X% against the previous year. Over the period under review, the import price continues to indicate a noticeable setback. The pace of growth was the most pronounced in 2016 when the import price increased by X%. The level of import peaked at $X per ton in 2017; however, from 2018 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per ton), while Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform

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