Singapore: Inedible Fish Products Market 2024

Inedible Fish Products Market Size in Singapore

The Singaporean inedible fish products market reduced modestly to $X in 2022, remaining constant against the previous year. In general, the total consumption indicated buoyant 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 decreased by X% against 2020 indices. Inedible fish products consumption peaked at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Inedible Fish Products Production in Singapore

In value terms, inedible fish products production fell to $X in 2022 estimated in export price. Overall, the total production indicated a resilient 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 2014 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2015; however, from 2016 to 2022, production remained at a lower figure.

Inedible Fish Products Exports

Exports from Singapore

Inedible fish products exports from Singapore shrank markedly to X tons in 2022, waning by X% against the previous year's figure. Overall, exports continue to indicate a mild decline. The growth pace was the most rapid in 2015 when exports increased by X%. Over the period under review, the exports reached the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, inedible fish products exports fell remarkably to $X in 2022. In general, total exports indicated modest 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, exports decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2016 with an increase of X%. The exports peaked at $X in 2021, and then contracted sharply in the following year.

Exports by Country

British Indian Ocean Territory (X tons) was the main destination for inedible fish products exports from Singapore, with a X% share of total exports. Moreover, inedible fish products exports to British Indian Ocean Territory exceeded the volume sent to the second major destination, India (X tons), fourfold.

From 2012 to 2022, the average annual growth rate of volume to British Indian Ocean Territory stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Mauritius (X% per year).

In value terms, British Indian Ocean Territory ($X) remains the key foreign market for inedible fish products exports from Singapore, comprising X% of total exports. The second position in the ranking was taken by India ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to British Indian Ocean Territory stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (X% per year) and Mauritius (X% per year).

Export Prices by Country

In 2022, the average inedible fish products export price amounted to $X per ton, almost unchanged from the previous year. Over the last decade, it increased at an average annual rate of X%. The growth pace was the most rapid in 2021 when the average export price increased by X%. The export price peaked in 2022 and is likely to continue growth in the immediate term.

Average prices varied somewhat for the major external markets. In 2022, amid the top suppliers, the country with the highest price was British Indian Ocean Territory ($X per ton), while the average price for exports to India ($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 Mauritius (X%), while the prices for the other major destinations experienced mixed trend patterns.

Inedible Fish Products Imports

Imports into Singapore

In 2022, the amount of inedible fish products imported into Singapore contracted dramatically to X tons, falling by X% against the year before. Over the period under review, imports continue to indicate a noticeable decrease. The most prominent rate of growth was recorded in 2015 when imports increased by X%. Imports peaked at X tons in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, inedible fish products imports dropped to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in 2016 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then dropped in the following year.

Imports by Country

Indonesia (X tons), China (X tons) and Japan (X tons) were the main suppliers of inedible fish products imports to Singapore, together accounting for X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Japan (with a CAGR of X%), while purchases for the other leaders experienced mixed trend patterns.

In value terms, Indonesia ($X) constituted the largest supplier of inedible fish products to Singapore, comprising X% of total imports. The second position in the ranking was taken by China ($X), with a X% share of total imports. It was followed by Japan, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Indonesia stood at X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (X% per year) and Japan (X% per year).

Import Prices by Country

The average inedible fish products import price stood at $X per ton in 2022, rising by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2014 an increase of X%. Over the period under review, average import prices hit record highs in 2022 and is likely to see gradual growth in the near future.

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 Indonesia ($X per ton), while the price for Taiwan (Chinese) ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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