World Fish trade fall in 2024

Trade in fisheries and aquaculture products contracted in 2024 due to various factors, including reduced demand in the main importing countries such as the United States of America and the EU. The estimated total value of fisheries products exports is USD 171 billion, which is approximately 7.6 billion less than in 2023.

China remained the top exporter, increasing its export value to USD 20.2 billion, which is 2 percent higher than in 2023.Norway is the second-largest exporter of fisheries and aquaculture products, primarily cultured Atlantic salmon. The country reported stable exports in 2024, totalling USD 16 billion. Ecuador is the third-largest exporting country, primarily due to shrimp exports. In 2024, Ecuador exported fisheries and aquaculture products valued at USD 9.2 billion, which is 2 percent more than in 2023, despite lower shrimp prices in the world market. Vietnam, the fourth-largest exporter, increased its exports by 4 percent in 2024 to reach USD 8.3 billion. The following major exporters reported lower export values in 2024: Chile (-12 percent), India (-5 percent), Canada (-14 percent), and the Netherland

Seafood imports declined by 4 percent in 2024

Total imports reflected the performance of fisheries and aquaculture products in exports. The total value is estimated at USD 164 billion for 2024, down by about USD 7 billion from 2023 and USD 21 billion from 2022. The United States of America remained the leading importing country but experienced a decline in import value. US import value reached USD 26.6 billion in 2024, a slight decrease (- USD 0.3 billion) from 2023 and a significant drop (- USD 3.2 billion) from 2022. The US market's trend aligns with that of many other major importing countries, all purchasing less.

China is the second largest importer and reported lower imports than in 2023, with a 3 percent decrease totalling USD 22.3 billion. Shrimp imports declined somewhat, and Alaska pollock imports also fell due to expectations that the EU ban on products from the Russian Federation could be extended to third countries reprocessing these products.

Japan, now the third-largest importer, experienced an additional 5 percent decline in imports to USD 12.9 billion in 2024. The EU-27 is the leading importer of fisheries and aquaculture products, even though none of its member countries are close to the United States, China, or Japan. The EU accounts for approximately 35 percent of total world fish imports by value. The primary EU importers (Spain, France, and Germany) all reported lower imports in 2024. Italy was the only exception, reporting a slight import increase due to the country's overall favourable economic situation.