Latvia: Preserved Fish Fillet Market 2024

Preserved Fish Fillet Market Size in Latvia

In 2022, the Latvian preserved fish fillet market increased by X% to $X, rising for the fourth year in a row after two years of decline. In general, consumption continues to indicate a noticeable contraction. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Preserved Fish Fillet Production in Latvia

In value terms, preserved fish fillet production contracted slightly to $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the production volume increased by X% against the previous year. Preserved fish fillet production peaked at $X in 2021, and then reduced modestly in the following year.

Preserved Fish Fillet Exports

Exports from Latvia

In 2022, the amount of fish fillets (dried, salted or in brine, but not smoked) exported from Latvia surged to X tons, jumping by X% against the previous year. In general, exports, however, continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, preserved fish fillet exports soared to $X in 2022. Over the period under review, exports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

Estonia (X tons), Germany (X tons) and Ireland (X tons) were the main destinations of preserved fish fillet exports from Latvia, with a combined X% share of total exports. Lithuania, Bulgaria, Greece, the Czech Republic and Cyprus lagged somewhat behind, together accounting for a further X%.

From 2012 to 2022, the biggest increases were recorded for Bulgaria (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Estonia ($X) remains the key foreign market for fish fillets (dried, salted or in brine, but not smoked) exports from Latvia, comprising X% of total exports. The second position in the ranking was held by Germany ($X), with a X% share of total exports. It was followed by Lithuania, with a X% share.

From 2012 to 2022, the average annual growth rate of value to Estonia stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (X% per year) and Lithuania (X% per year).

Export Prices by Country

In 2022, the average preserved fish fillet export price amounted to $X per ton, surging by X% against the previous year. Overall, the export price, however, showed a slight decrease. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2014 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Estonia ($X per ton), while the average price for exports to Greece ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Estonia (X%), while the prices for the other major destinations experienced a decline.

Preserved Fish Fillet Imports

Imports into Latvia

In 2022, supplies from abroad of fish fillets (dried, salted or in brine, but not smoked) decreased by X% to X tons, falling for the third consecutive year after four years of growth. Overall, imports, however, posted a significant increase. The pace of growth appeared the most rapid in 2014 with an increase of X%. Imports peaked at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, preserved fish fillet imports skyrocketed to $X in 2022. In general, imports, however, enjoyed significant growth. The pace of growth was the most pronounced in 2014 when imports increased by X% against the previous year. Over the period under review, imports attained the maximum in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, Lithuania (X tons) constituted the largest supplier of preserved fish fillet to Latvia, accounting for a X% share of total imports. Moreover, preserved fish fillet imports from Lithuania exceeded the figures recorded by the second-largest supplier, Vietnam (X tons), more than tenfold.

From 2012 to 2022, the average annual growth rate of volume from Lithuania totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (X% per year) and Estonia (X% per year).

In value terms, Lithuania ($X) constituted the largest supplier of fish fillets (dried, salted or in brine, but not smoked) to Latvia, comprising X% of total imports. The second position in the ranking was taken by Estonia ($X), with an X% share of total imports.

From 2012 to 2022, 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: Estonia (X% per year) and Vietnam (X% per year).

Import Prices by Country

The average preserved fish fillet import price stood at $X per ton in 2022, jumping by X% against the previous year. In general, the import price, however, continues to indicate a noticeable descent. The import price peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Estonia ($X per ton), while the price for Lithuania ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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