November 12, 2007

China's seafood exports rises 8 percent to US$7 billion
 

Aquatic exports for China, the world's largest seafood producer and exporter, rose 8 percent on-year to US$6.96 billion in the first nine months of 2007, according to information released by the Ministry of Agriculture on November 9th.

Imports reached US$ 3.7 billion, rising by 11.54 percent. 

Trade surplus was up by 3.29 percent on-year.

China's main aquatic product export market was Japan, which accounts for nearly a-third of China's aquatic exports.

However, exports to the country has fallen by 1.22 percent on-year.

Despite bans on five Chinese seafood species due to antibiotic use, export value to the US, which accounts for nearly a fifth of China's seafood exports, were up 2.8 percent.

Export value to the EU, which accounts for 16 percent of overall exports was up 9.2 percent, signaling a fast-growing market while exports to South Korea (which accounts for 11 percent) grew an even faster 11.2 percent.

The four countries accounts for more than 75 percent of China's seafood exports.