European Union member states imported more than 59,100 metric tons (MT) of fisheries and aquaculture products worth EUR 451 million (USD 514 million) last year, with the volume and value up slightly on 2016. However, the 2017 figures fell short of the totals of 63,964 MT and EUR 542 million (USD 617.7 million) posted for 2015, new statistics published by the European Market Observatory for Fisheries and Aquaculture Products (EUMOFA) find.
The difference between the 2015 and 2017 import figures is largely due to a decrease in the shrimp trade, which is historically the top commercial species brought into the 28-nation bloc from Canada.
In 2017, the E.U. imported 16,636 MT of miscellaneous shrimp products worth EUR 151 million (USD 172.1 million), compared with 16,261 MT worth EUR 154 million (USD 175.5 million) in 2016, and 22,052 MT worth EUR 256 million (USD 291.8 million) in 2015.
Member states also brought in 6,071 MT of Canadian coldwater shrimp last year, compared with 5,798 MT in 2016 and 8,843 MT in 2015. These products were worth EUR 23 million (USD 26.2 million), EUR 24 million (USD 27.3 million) and EUR 36 million (USD 41 million) respectively.
Canadian lobster is the second-most important species imported by the E.U., with last year’s trade amounting to 8,731 MT worth EUR 130 million (USD 148.2 million). In 2016, these totals stood at 9,061 MT and EUR 134 million (USD 152.7 million), and in 2015, they were 8,690 MT and EUR 121 million (USD 137.9 million).
The United Kingdom is the E.U.’s lead importer of Canadian seafood, bringing in 15,889 MT of products worth EUR 126 million (USD 143.6 million) in 2017, followed by Denmark with 13,640 MT worth EUR 94 million (USD 107.1 million), and France with 6,592 MT worth EUR 65 million (USD 74.1 million).
EUMOFA’s analysis also establishes that in comparison to its imports, E.U. exports to Canada are much lower, amounting to 26,644 MT worth a total EUR 98 million (USD 111.7 million) last year. The main species exported were salmon (25 percent in value), fishmeal (14 percent) and other marine fish (10 percent).
The United Kingdom and Denmark were the two main E.U. exporting countries to Canada, each accounting for 18 percent of the export total. The Netherlands and Portugal followed with 10 percent each.
On 21 September, 2017, the Comprehensive Economic and Trade Agreement (CETA) between the E.U. and Canada came into force after eight years of negotiations.
Before CETA, E.U. tariffs for fish and seafood averaged 11 percent, and could be as high as 25 percent. The agreement immediately eliminated tariffs that were already zero or low (many under five percent) on most products. Tariffs on the remaining products will be removed over the next six years.
EUMOFA said that with the removal of these tariffs, the prices of such products are expected to fall – leading to increased demand, consumption and trade.
