Panama: Market for Frozen, Dried And Smoked Fish 2024

Market Size for Frozen, Dried And Smoked Fish in Panama

The Panamanian market for frozen, dried and smoked fish shrank to $X in 2023, therefore, remained relatively stable against the previous year. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Frozen, dried and smoked fish consumption peaked at $X in 2021; however, from 2022 to 2023, consumption stood at a somewhat lower figure.

Production of Frozen, Dried And Smoked Fish in Panama

In value terms, frozen, dried and smoked fish production rose slightly to $X in 2023 estimated in export price. The total output value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern remained relatively stable, with only minor fluctuations being observed in certain years. The pace of growth appeared the most rapid in 2013 when the production volume increased by X% against the previous year. Frozen, dried and smoked fish production peaked at $X in 2021; however, from 2022 to 2023, production stood at a somewhat lower figure.

Exports of Frozen, Dried And Smoked Fish

Exports from Panama

In 2023, shipments abroad of frozen, dried and smoked fish decreased by X% to X tons for the first time since 2020, thus ending a two-year rising trend. Over the period under review, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

In value terms, frozen, dried and smoked fish exports declined to $X in 2023. In general, exports, however, posted significant growth. The pace of growth was the most pronounced in 2013 when exports increased by X%. The exports peaked at $X in 2014; however, from 2015 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Taiwan (Chinese) (X tons), the United States (X tons) and Costa Rica (X tons) were the main destinations of frozen, dried and smoked fish exports from Panama, together comprising X% of total exports. The Dominican Republic, Barbados, Spain, Curacao, Trinidad and Tobago, Colombia, Italy, Vietnam and Ecuador lagged somewhat behind, together accounting for a further X%.

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

In value terms, Taiwan (Chinese) ($X) remains the key foreign market for frozen, dried and smoked fish exports from Panama, comprising X% of total exports. The second position in the ranking was taken by the United States ($X), with a X% share of total exports. It was followed by Costa Rica, with a X% share.

From 2012 to 2023, the average annual rate of growth in terms of value to Taiwan (Chinese) stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (X% per year) and Costa Rica (X% per year).

Export Prices by Country

In 2023, the average export price for frozen, dried and smoked fish amounted to $X per ton, growing by X% against the previous year. Over the period under review, export price indicated a buoyant increase from 2012 to 2023: 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. Based on 2023 figures, frozen, dried and smoked fish export price increased by X% against 2020 indices. The pace of growth was the most pronounced in 2013 when the average export price increased by X%. As a result, the export price reached the peak level of $X per ton. From 2014 to 2023, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Vietnam ($X per ton), while the average price for exports to Ecuador ($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 Curacao (X%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Frozen, Dried And Smoked Fish

Imports into Panama

Frozen, dried and smoked fish imports into Panama reduced slightly to X tons in 2023, with a decrease of X% against the year before. Over the period under review, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by X,791% against the previous year. Over the period under review, imports reached the peak figure at X tons in 2019; however, from 2020 to 2023, imports stood at a somewhat lower figure.

In value terms, frozen, dried and smoked fish imports expanded slightly to $X in 2023. In general, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X,715%. Over the period under review, imports reached the peak figure in 2023 and are expected to retain growth in the near future.

Imports by Country

Chile (X tons), Vietnam (X tons) and Mexico (X tons) were the main suppliers of frozen, dried and smoked fish imports to Panama, together comprising X% of total imports. China, Norway, the United States and Peru lagged somewhat behind, together accounting 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 the United States (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Chile ($X) constituted the largest supplier of frozen, dried and smoked fish to Panama, comprising X% of total imports. The second position in the ranking was held by Vietnam ($X), with a X% share of total imports. It was followed by China, 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: Vietnam (X% per year) and China (X% per year).

Import Prices by Country

In 2023, the average import price for frozen, dried and smoked fish amounted to $X per ton, picking up by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2022 when the average import price increased by X% against the previous year. The import price peaked in 2023 and is expected to retain growth in years to come.

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

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

Source: IndexBox Platform