Russia's Marine Industry : Trade Analysis

 

Russia is among the world’s biggest markets for marine items exports. Aquaculture contributes largely to Russia's economy. It is derived from the fact that Russian marine industry exports are continuously blooming year wise. According to Russia import export data reports, the country’s marine exports were estimated to be around $8.1 billion during last fiscal year.

There was record growth as compared to $6.6 billion marine exports of Russia during fiscal year 2022. Russia was also the biggest exporter of Non-fillet frozen fish globally. Russia export data shows over $3.7 billion worth of non frozen fillet fish was exported by Russia last year. China was the biggest buyer of fishery items from Russia showing frequent growth.

Russia exported around 5.3 tons of fish to China with an 8.6% increase last year. China contributed to around 45% of the country’s overall fish exports with imports worth around $1.8 billion in 2023. South Korea and Japan were other notable fish importers from Russia with 18% and 12% market share. Among the fastest growing markets were Nigeria, Poland, Vietnam, and Nigeria.

Whereas, in terms of overall fishery items exports, South Korea was identified as the leading destination for Russia’s marine exports.South Korea accounted for 42% of the country's overall marine exports. South Korea has recorded around $2.3 billion worth of marine items imports from Russia.

After South Korea, China was the significant importer of Russian marine items with an estimated value of around $1.5 billion in 2023. Russia has seen notable increase in the exports to the Netherlands, Japan, Germany, France and Poland. Sigma Marine Technology, Murmansk Trawl Fleet and Tymlat Fish Factory were the leading marine items export companies from Russia.

In terms of shrimp and crabs exports, Russia earned around $1.5 billion from its exports. Nearly 50%  of Russia’s shrimps and crabs exports went to South Korea with an estimated value of around $771 million last year. Russian shrimps and crabs got great demand among China and the Japanese market where exports saw record growth.

China import data shows around $651 million worth of shrimps and crabs imports made by Russia during FY 2023. Whereas, Japan imported $77 million worth of shrimps and crabs followed by the Netherlands ($27 million), Ukraine ($767 thousand) and Hong Kong ($604 thousand). Pacific crab, Ostrovnoy and Voshod were the leading crab export companies from Russia with the highest number of shipments last year. 

Whereas per Russia import data, the marine items imports stood at around $158 million during last fiscal year. The key destinations for Russia’s marine items imports were mostly Faroe Islands, Chile, China, Ecuador, Turkey, Vietnam and India respectively. Shipment wise, Russia’s top marine items import companies were Yuhifrost, Hivyunay Rus, and Moreodor. 

Hope these Russia trade statistics over the marine market could help Russian companies to access market demand. Also, they could reach out to the potential buyers from these markets through the assistance of the global import export data providers. With a global trade database, companies can explore the product demand, pricing, risk, competitor strategy and potential buyers from new marketplaces by spending a little trade data.