China’s seafood exports in 2016 totaled USD 20.74 billion (EUR 19.44 billion), a two percent increase over 2016, according to newly released data from the country’s Agriculture Ministry.
China’s seafood imports rose by 4.4 percent to USD 9.37 billion (EUR 8.78 billion). Figures for tonnage were not made available.
China’s trade advantage in seafood rose only 0.1 percent year-over-year in 2016, lower than in previous years, suggesting the days of the country posting massive export surpluses may be slowly winding down. In 2015, imports, at USD 8.9 billion (EUR 8.3 billion), were down 2.2 percent, while in 2014, import volume and value rose by 2.65 percent and 6.34 percent, respectively.
The country’s seafood imports are part of a wave of its growing overall demand for protein. China imported USD 23.4 billion (EUR 21.9 billion) in “livestock products” in 2016, representing a 14.5 percent jump on its 2015 total, while its livestock exports fell 4.2 percent to USD 5.64 billion (EUR 5.29 billion). Likewise, China’s beef imports rose 22.4 percent year-on-year in 2016.
Seafood is one of the few food sources in which China now enjoys a positive trade balance, as the country gradually switches to imports in other categories.
