The Central Administration of Statistics in Kuwait has recently released comprehensive data regarding the seafood market in 2023. The findings reveal notable fluctuations throughout the year, with shrimp prices rising by 15.5 percent.

Quarterly Sales Overview

In the initial quarter of 2023, seafood sales in Kuwait showcased promising figures, with approximately 732.8 tons sold, amounting to a substantial value of KWD 1.64 billion (USD 5.32 billion). However, this positive momentum was disrupted in the following quarter, witnessing a stark decline of 43.4 percent. Sales plummeted to 399.26 tons, valued at KWD 927.8 million (USD 3.01 billion).

The market, however, demonstrated resilience in the third quarter, experiencing a noteworthy recovery. Seafood sales surged to 866.7 tons, indicating a robust rebound and generating a total value of KWD 2.12 billion (USD 6.88 billion).

Shrimp Price Surge

Alongside sales fluctuations, pricing trends played a significant role in shaping the dynamics of Kuwait’s seafood market in 2023. Notably, prices experienced an overall uptick compared to the previous year, impacting consumer behavior and market competitiveness.

One of the most striking observations pertains to the surge in shrimp prices, which escalated by 15.5 percent throughout the year. This surge positioned Kuwait’s shrimp prices notably higher than those in neighboring countries such as Bahrain, Saudi Arabia, and Qatar, indicating potential shifts in sourcing patterns and consumer preferences.