Costa Rica: Frozen Fish Market 2024

Frozen Fish Market Size in Costa Rica

For the third year in a row, the Costa Rican frozen fish market recorded growth in sales value, which increased by X% to $X in 2022. Overall, consumption showed a strong expansion. Over the period under review, the market reached the maximum level in 2022 and is likely to see gradual growth in the near future.

Frozen Fish Production in Costa Rica

In value terms, frozen fish production stood at $X in 2022 estimated in export price. Over the period under review, the total production indicated tangible 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, production decreased by X% against 2020 indices. The pace of growth appeared the most rapid in 2018 with an increase of X% against the previous year. Frozen fish production peaked at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Frozen Fish Exports

Exports from Costa Rica

In 2022, exports of frozen fish from Costa Rica plummeted to X tons, dropping by X% on 2021 figures. In general, exports faced a deep reduction. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. The exports peaked at X tons in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, frozen fish exports rose rapidly to $X in 2022. Overall, exports faced a abrupt decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United States (X tons) was the main destination for frozen fish exports from Costa Rica, accounting for a X% share of total exports. Moreover, frozen fish exports to the United States exceeded the volume sent to the second major destination, Nicaragua (X tons), threefold. The third position in this ranking was taken by Mexico (X tons), with an X% share.

From 2012 to 2022, the average annual growth rate of volume to the United States totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nicaragua (X% per year) and Mexico (X% per year).

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

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

Export Prices by Country

The average frozen fish export price stood at $X per ton in 2022, picking up by X% against the previous year. Overall, export price indicated temperate growth from 2012 to 2022: its price 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, frozen fish export price increased by X% against 2014 indices. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while the average price for exports to Nicaragua ($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 Brazil (X%), while the prices for the other major destinations experienced more modest paces of growth.

Frozen Fish Imports

Imports into Costa Rica

In 2022, approx. X tons of frozen fish were imported into Costa Rica; surging by X% compared with the previous year's figure. The total import volume increased at an average annual rate of X% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of X%. Over the period under review, imports hit record highs in 2022 and are likely to see gradual growth in the near future.

In value terms, frozen fish imports skyrocketed to $X in 2022. Over the period under review, total imports indicated a strong 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, imports increased by X% against 2018 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of frozen fish to Costa Rica, accounting for a X% share of total imports. Moreover, frozen fish imports from China exceeded the figures recorded by the second-largest supplier, Panama (X tons), threefold. Ecuador (X tons) ranked third in terms of total imports with a X% share.

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

In value terms, China ($X) constituted the largest supplier of frozen fish to Costa Rica, comprising X% of total imports. The second position in the ranking was taken by Chile ($X), with a X% share of total imports. It was followed by Panama, with an X% share.

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

Import Prices by Country

In 2022, the average frozen fish import price amounted to $X per ton, growing by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2021 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure in 2022 and is likely to continue growth in years to come.

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 Chile ($X per ton), while the price for Mexico ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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