ASEAN Dethrone Russia as Largest Seafood Exporter to China


ASEAN Dethrone Russia as Largest Seafood Exporter to China

Russia has been for a very long time the largest exporter of seafood to China. However the numbers for this year reveals that it may have been dethroned by the ASEAN countries whose export to China have risen by a good 59.2 percent. ASEAN bloc and Russia accounted for 14.5 and 13.8 percent respectively of the total seafood exports to China. On the other hand however, it also appears like the Chinese exports to the ASEAN countries has dipped by almost 14.6 percent.

Despite its strained trade relations with the U.S., the countries seafood export to China has risen by almost 30 percent. Japan on the other hand leads as the top export market for China. Despite its best effort Chinese export to ASEAN seems to have dipped considerably.

The Chinese import figures seem to be steadily increasing when compared to its exports owing to both increasing demand as well as its governments strict fishing and environmental regulations. The import and export figures for the first half of 2018 only reveals both seafood exports and imports are becoming more expensive as supply tightens and China’s demand grows. There is an obvious increase in the price of seafood across the globe, which is only bound to increase with the Chinese demand.

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