Imagine the vast potential of Indonesia’s rich marine resources getting even more access to the US market, establishing the US as the largest importer of Indonesian seafood products. This makes the US, Indonesia’s most crucial seafood export destination, consistently absorbing the largest volume of their marine products, highlighting tremendous trade opportunities.  

This dominant position presents a billion-dollar seafood market in America and other countries. By focusing on quality, and adapting to evolving consumer preferences, Indonesian exporters can further solidify their market position as the leading supplier of marine resources. The strategic partnership with the US ensures a prosperous future for Indonesian seafood exports. Let’s understand the market trend –

Indonesia Seafood Trade with Top Export Partners

Indonesia is among the top exporters of fish products, contributing a significant share globally. For instance –

1. Indonesian fish products under HS code (03) stood at $4,032 million in 2024, an increase of 10.2% compared to 2023.
2. The US is the largest importer of Indonesian fish products with approximately 30% of total exports in 2024.
3. China, Japan, and Vietnam collectively imported $1.71 billion of fish and seafood products from Indonesia.
4. Notably, the Indonesian fish product from Vietnam, and China increased by 41.3%, and China by 18.4% in 2024, compared to 2024.
5. Surprisingly, the fish export to Japan from Indonesia declined by 13.3% in 2024, compared to 2023.

Value USD Million**

Top Fish and Seafood Product Exporters In 2024

The global demand for fish and seafood products is rapidly increasing, driven by an increase in population and income, and awareness of seafood health benefits. This has resulted in a significant market expansion of the global seafood market. For instance, the global seafood market was around USD 360 billion in 2024 and is expected to grow between $800-950 billion by 2032 with a 10% CAGR from 2024 to 2032.  Let’s take a look at the top seafood exporters in 2024 –

1. Norway, a European country, is the largest exporter of seafood products globally with a total value of $15.4 billion in 2024. 
2. China, Chile, Indonesia, and Spain, share the 2nd, 3rd, 4th, and 5th spots with a total trade value of $10.3, $7.3, $4.03, and $4.2 Billion respectively, in 2024.
3. Notably, seafood exports by Norway increased in the quarter, for instance, exports increased by 17.3% from Q1 to Q4 of 2024.
4. Seafood exports by Spain started to decline from Q2 -Q4 of 2024, for instance, during the period, exports declined by 3.9% in Q4 of 2024, compared to Q2 of 2024.

Value USD Million***

Top Fish and Seafood Importers from 2022 to 2024

As the global demand for fish and seafood is increasing, dependent countries are seeking lasting suppliers. Let’s break it and check the import market potential –

1. The US and China are the largest importers of seafood products globally with $21 and $17.8 billion in 2024.
2. Japan’s seafood imports declined by 18.9% in 2024, compared to 2022. This decline indicated low demand or an increase in domestic production of seafood.
3. Notably, seafood import value declined by all major countries, showing a weak demand or disrupted supply chain.
4. Surprisingly, the demand for seafood in Spain slightly increased by $500 in 2024, compared to 2023, offering trade opportunities to exporters.

Value USD Billion***

Why Indonesian Seafood Product Is Eyeing the US Market

Over the years, the US-Indonesia took several steps to boost bilateral trade. Improvement in trade relations makes Indonesia a trade surplus country with the US, for instance, while trading with US, Indonesia experienced a $14.4 billion trade surplus in 2024.

The US is emerging as a suitable trading partner for Indonesia because of the lowest imposed tariffs. This makes Indonesian exports competitive in the US market with larger market access. To think of it, the government is expanding its seafood products to US consumers, so that they can get more access.

Conclusion –

As the population and income rise, the demand for seafood products also surged. According to reports, the demand for seafood is expected to grow by 10% CAGR from 2024 to 2032. The US will be the largest consumer. Indonesia is eyeing the US market to capture the maximum market share in seafood.