China fishery trade reaches record USD 15 billion
China's foreign fishery trade reached USD 15 billion in 2008, the country’s customs bureau reported this month. With a 9 percent increase in the export value compared to 2007, the country exported USD 10 billion worth of seafood in 2008, almost 100 percent of which was edible products.
Although the export volume fell by 12 percent from 2.95 million metric tons in 2007 to 2.83 million tons in 2008, it was distorted by higher revenue from the exports of prepared fishery products, which increased by 49 percent in value.
China’s domestic consumption was comparatively slow last year; seafood consumption during the Chinese New Year (January 2008) celebration dropped due to abnormally cold weather.
As an overall trend, the economic crisis has turned domestic consumption toward cheaper, locally produced fish. China’s seafood imports also increased last year, with a total import volume of 3.7 million metric tons valued at USD 5.12 billion.