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Canadian seafood exports increased by 6.5 in 2013

2017-05-22

Canadian fisheries minister Gail Shea released data show that in 2013, exports of Canadian seafood reached $3 billion 980 million, an increase of $241 million 200 thousand, or 6.5%. The government of Canada has pledged to maximize the economy of fisheries, aquaculture and fishing in order to ensure the continued development of the industry.

For the industry, Canada's seafood export earnings growth is good news, the government expects the next few years, Canada's fishery export industry continues to grow. Trade agreements with South Korea and Europe, in particular, will promote Canadian fishing exports.

In 2013, Canadian seafood was exported to 123 countries and regions, including 63% of US exports and 2 billion 800 million US dollars. Last year, Canadian seafood exports to the United States revenue 195 million 300 thousand U. s.dollars, an increase of 8%; exports to Europe 25 million 700 thousand U. s.dollars, an increase of 8.3%. In 2013, Canada signed a comprehensive economic and trade agreement with the European Union, which would benefit the export trade of Canadian fisheries in europe. China is also another important export destination for Canadian seafood, and exports to China last year amounted to $408 million 700 thousand.

Seafood exported from Canada is dominated by lobsters, snow/queen crab, cultured salmon and shrimp in the Atlantic. In 2013, the total export volume was 28000 tons, accounting for 47% of the total export volume of seafood, and the export earnings were 2 billion 400 million US dollars, accounting for 62% of the total revenue. Canadian aquaculture seafood last year accounted for 35% of total fishery exports, exports accounted for 13%.

The Canadian government announced last week (10-17 March) that it would sign bilateral free trade agreements with South korea. The Canadian government said the free trade agreement between the country and South Korea would increase Canada's export sector by 32%, or about $1 billion 500 million a year. At the same time, South Korea's exports to Canada will grow by 20% annually, or about $1 billion 100 million.

The two countries decided on free trade agreement came into force after 10 years, every year to reduce tariffs on most products quantitatively, with the number of products as the standard, the two countries will have 97.5% products can be exempt from import tariffs, imports to prevail, South Korea's 98.7% products, Canada 98.4% products will enjoy preferential tariff free. Export tariffs on seafood have been cut by an average of 16.5%.