Frozen Seafood Exporters Thrive as Chilean Exports Hit Record Highs in 2023 with China as a Key Market

frozen seafood exporters

The year 2023 marked a significant milestone for frozen seafood exporters, particularly from Chile, as they witnessed an unprecedented surge in export volumes, with China emerging as a pivotal market. The total value of Chilean seafood exports reached nearly $9 billion, registering a year-on-year increase of 1.8%. This impressive growth is attributed to the robust performance of key sub-industries and the burgeoning Chinese market’s pivotal role in Chile’s seafood export landscape.

Chilean Seafood Exports: A Rising Trend

In 2023, Chilean exports to the Chinese market soared to $761 million, marking a substantial year-on-year increase of 29.6%. This remarkable growth not only cements China’s significance in the Chilean seafood trade but also boosts China’s share of total Chilean seafood exports to 8.4%. Such a trend underscores the growing influence of the Chinese market in shaping the global seafood export sector.

Factors Driving Growth in the Chinese Market

The upswing in the Chinese market can be attributed to several factors. Notably, the export volume of salmon and trout to China has escalated, reaching $830 million – a year-on-year increase of 3.2%. Additionally, the demand for fish meal and crustaceans in China has seen a significant uptick, with exports valued at $200 million (a 9% increase) and $227 million (a 40.8% increase), respectively.

Robust Demand for Chilean Seafood

Beyond the increase in export volume, the actual demand for Chilean seafood in the Chinese market has exhibited strong performance. In 2023, Chile’s sales volume to China hit 231,600 tons, marking a 21% increase from the previous year. This growth further emphasizes the strategic importance of the Chinese market in Chile’s seafood export strategy.

The Impact on the Chilean Seafood Industry

The steady growth in the Chinese market has had a profoundly positive impact on the Chilean seafood industry. China has established itself as one of the key markets for Chilean seafood exports, contributing significantly to the industry’s overall growth and stability. Frozen seafood exporters, particularly those in Chile, can look forward to leveraging this trend for sustained success in the global market.

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