Trade figures released by Minister of Fisheries and Oceans, Gail Shea show that the country's seafood exports continued an upward trend in 2013, with an overall increase of CAD 268 million (USD 241.2 million) or 6.5 per cent over the previous year, with total sales reaching CAD 4.42 billion (USD 3.98 billion).
The Minister is currently leading the Canadian delegation at North America’s largest seafood trade event, Seafood Expo North America on 16-18 March, where she promoted Canada’s role in ensuring very well regulated and sustainable seafood.
“Our Government is committed to maximize economic opportunities in the fisheries, seafood and aquaculture sectors while ensuing their responsible and sustainable management. This upward trend in exports is great news, and we can expect more significant growth over the coming years with our recent trade agreements with the European Union and South Korea,” said Shea.
Canada exported fish and seafood products to 123 countries last year, with approximately 63 per cent of those exports destined for the United States at a value of USD 2.8 billion (USD 2.5 billion).
Canada’s biggest seafood export increase overall was to the US, which saw an 8 per cent (CAD 217 million/USD 195.3 million) increase over the previous year, followed closely by the European Union with an 8.3 percent (CAD 28.6 million/USD 25.7 million) export growth. Canada and the European Union last year agreed on the Comprehensive Economic and Trade Agreement, which has been widely welcomed as a major boom for the industry. Exports to the EU amounted to CAD 372 million (USD 334.9 million) in 2013.
The People’s Republic of China was another important market: it imported CAD 454 million (USD 408.7 million) worth of Canadian fish and seafood products last year.
Canada’s largest exports by value were lobster, snow/queen crab, farmed Atlantic salmon, and shrimp. In 2013, these species accounted for 47 per cent (28,000 tonnes) of all fish and seafood exports by volume and 62 per cent (CAD 2.7 billion/USD 2.4 billion) of the total value of exports.
Aquaculture accounted for 13 per cent of Canada’s total seafood production and 35 per cent of total seafood value.
The Government of Canada also announced last week that Canada and the Republic of Korea have concluded negotiations for a Canada-Korea Free Trade Agreement. The agreement will significantly boost trade between the two countries, eliminating all South Korea’s average tariff of 16.5 per cent in this sector, which includes tariff peaks as high as 47 per cent, on fish and seafood products.