HS Code:
The Fillets category, typically classified under HS Code 0304, includes fish fillets and other fish meat (whether or not minced), fresh, chilled, or frozen. This category is a significant segment of the global seafood trade, encompassing a wide variety of species such as salmon, cod, tilapia, and pangasius. Fillets are a preferred product due to their convenience for consumers and versatility in culinary applications. The trade in fillets is influenced by factors like aquaculture growth, sustainability concerns, and consumer demand for healthy protein sources.
Total Trade Volume
USD 25.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 5.1 billion
20.2% of total trade of total trade
Increasing
USD 3.8 billion
15.0% of total trade of total trade
Increasing
USD 2.9 billion
11.5% of total trade of total trade
Stable
USD 2.5 billion
9.9% of total trade of total trade
Increasing
USD 1.8 billion
7.1% of total trade of total trade
Stable
Average Rate
7.5%
Highest Rate
35% (applied by certain developing countries to protect local industries)
Lowest Rate
0% (under free trade agreements like EU-Norway or USMCA)
Growing demand for sustainable and certified fillets
Increased market share for producers adhering to certifications like MSC (Marine Stewardship Council) and ASC (Aquaculture Stewardship Council).
2021-2023
Rise in aquaculture production
Countries like Vietnam and China have boosted fillet exports through intensive fish farming, reducing reliance on wild-caught fish.
2018-2022
Shift towards value-added products
Processors are increasingly offering pre-seasoned or ready-to-cook fillets, catering to consumer convenience and driving higher profit margins.
2020-2023
The European Union introduced new regulations requiring traceability and sustainability certification for all imported fish fillets to combat overfishing and illegal practices.
January 2023
Smaller exporters may face challenges in meeting compliance costs, potentially reducing their market access to the EU, which accounts for a significant share of global fillet imports.
The United States and Vietnam reached an agreement to reduce anti-dumping duties on Vietnamese pangasius fillets, boosting export potential.
March 2022
This has led to a surge in Vietnamese fillet exports to the US, intensifying competition with domestic catfish producers.
Norway reported a record high in salmon fillet exports, driven by increased demand in Asia and North America.
October 2022
Strengthened Norway's position as the leading exporter of fillets, while pushing other exporters to diversify their species offerings.