China sees massive seafood export growth in Southeast Asia
China appears to be having major success at increasing its exports to Southeast Asia, a result of the country’s improving relations with the Philippines as well as the 'One Belt, One Road’ initiative, which is increasing China’s trading partnerships and reach.
The Association of South East Asian Nations (ASEAN) bloc was the biggest buyer of Chinese seafood in the first quarter of 2017, ahead of second-placed Japan, which bought 1.49 million tons worth USD 825 million (EUR 738.7 million), up 1.2 percent and 2.3 percent, respectively.
China’s seafood exports to ASEAN rose by 32.6 percent in volume and 7.9 percent in value terms. Shipments to the Philippines rose 53.8 percent and 25.9 percent in volume and value terms, respectively, to 61,000 tons and USD 192 million (EUR 171.9 million). Exports to Malaysia rose by 33 percent to 24,800 tons and shipments to Indonesia rose 476 percent to 35,900 tons worth USD 77 million (EUR 69 million) – up a remarkable 407 percent from the same period last year.
As a whole, ASEAN accounted for 196,200 tons of seafood imports from China worth USD 750 million, making it more valuable than American market, which imported 114,900 tons of Chinese seafood worth USD 650 million (EUR 582 million), down 3.7 percent and 2.4 percent, respectively in volume and value terms.
Another market China has seen advances in is Mexico, having exported 22,300 tons of seafood there worth USD 113 million (EUR 101.2 million) – up 30.3 percent in volume and 52.4 percent in value year-on-year. The European market, in contrast, seems to have stabilized, as the E.U. bought 104,500 tons of seafood from China worth USD 430 million (EUR 385 million), down 0.5 percent in volume and up 0.7 percent in value, respectively.