March 15, 2005

Canadian seafood update: 2004 a success

2004 was another successful year for fish and seafood exports as Canadian sales to more than 120 countries totalled $4.5 billion.

"For the past several years, Canada has benefited from exceptional export figures. This is evidence of our country's commitment to providing quality seafood products to an increasing number of international markets", said Mr. Murphy, M.P. for Charlottetown.

Even though the Canadian dollar was worth seven percent more compared to the US dollar, exports of $4.5 billion were equal to the sales recorded in 2003. More than 685,000 tonnes of fish and seafood products were exported worldwide last year - up eight percent compared to 2003.

"Seafood is the largest single food commodity exported by Canada. The commendable performance in 2004 by all stakeholders is tangible proof of why Canada is the fifth largest seafood exporter in the world," Mr. Murphy said. "The stability of Canada's fisheries depends upon the future productivity of the resource. That's why DFO works so hard to ensure that fishing is conducted in a way that respects the sustainability and viability of all stocks."

The United States remains Canada's largest export destination, with nearly two-thirds of its seafood products, valued at $2.8 billion, sold to this market. Once again, Japan ranked second with Canadian seafood imports valued at nearly $500 million. Exports to the European Union, Canada's third largest trading partner, increased by 4.0 percent last year to more than $474 million. China and Hong Kong followed at $366 million.

The top three species exported from Canada last year were lobster, crab, and salmon (farmed and wild) with a combined value of more than $2.5 billion. They accounted for 55 percent of Canada's seafood exports. Lobster exports were $951.7 million, followed by crab, worth $925.6 million, and salmon, at $573.5 million. Other major export species included herring, scallops, cod, halibut, and clams, with a combined value of almost $600 million.

Nova Scotia was once again the largest exporting province at $1.09 billion, with its top-valued products - lobster, scallops, and crab - accounting for more than $615 million. Newfoundland and Labrador came in second, with exports worth $1.01 billion - shrimp, crab, and Atlantic cod being its highest-selling products. British Columbia ranked third at $985 million; New Brunswick, fourth at $824 million. The province of Quebec saw a significant increase of more than 15 percent in exports last year, moving it up to fifth place with $218 million, ahead of Prince Edward Island, at $181 million.