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Canadian fish and seafood export up 11.9 pct in 2014

Xinhua, March 17, 2015 Adjust font size:

Canada exported 4.9 billion Canadian dollars worth of fish and seafood products in the year 2014, representing an increase of 517 million Canadian dollars, or 11.9 percent up from the previous year, according to a news release by the Canadian Ministry of Fisheries and Oceans Monday. The United States remains Canada's largest export market in 2014, accounting for 63 percent of its total fish and seafood exports, at a value of 3.1 billion Canadian dollars. Canada's biggest seafood export increase overall was to the European Union with a 24 percent increase, or 89 million dollars in export growth.

Thanks to the entry into force of Canada's Comprehensive Economic and Trade Agreement (CETA) with the EU, 96 percent of EU tariffs on Canada's fish and seafood products will be immediately eliminated, and the remaining 4 percent will be eliminated within seven years.

The press release said trade with South Korea is also expected to increase as a result of the Canada-Korea Free Trade Agreement which came into force on Jan. 1, 2015.

Meanwhile, Canadian fish and seafood exports reached new markets of 136 countries in 2014, up from 123 countries in 2013.

Canada's largest exports by species were lobster, snow/queen crab, shrimp and farmed Atlantic salmon. In 2014, these species represented 63 percent or 3.1 billion dollars of the total value of exports and 46 percent or 262,000 tonnes of the total volume of fish and seafood exports. Lobster remained Canada's top export species in terms of value, with 1.5 billion dollars of exports in 2014.

Following the U.S., China and the European Union were significant markets, importing almost 508 million dollars and 459 million dollars worth of Canadian fish and seafood products respectively in 2014.

Aquaculture represents about a third of Canada's total fisheries value and about 20 percent of total seafood production. The industry provides more than 14,000 job opportunities in direct and indirect employment, many of which are in remote and coastal locations. Enditem(one Canadian dollar is about 0.9 U.S. dollar