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Trade Tracker: Year in review

Seafood imports outweigh exports 3:1


December 01, 2012

Reviewing the amount of seafood imports and exports, we continue to see a negative trade balance, to the tune of negative $5.7 billion as of the third quarter of this year. 

Over the first three quarters of 2012, the United States imported $9.5 billion worth of seafood and exported $3.8 billion. Viewed from another perspective, seafood accounts for 11.5 percent of all food imports into the United States and 4.3 percent of all food exports. Seafood imports, by dollar value, have increased 2.2 percent compared to last year, while seafood exports have increased a mere 0.3 percent in value.

On the import side, shrimp and prawns hold the No. 1 spot as the top import for the first three quarters of 2012, followed by crab and tilapia, respectively. About 18 percent of all seafood imports come from Canada, even though imports are down 3.3 percent from last year. Seafood imports from Chile have increased 17 percent, while imports from Thailand have decreased by 21 percent since last year. 

U.S. seafood exports consist mostly of frozen fish and fish meat, followed by lobster and cod. China is the largest importer of U.S. seafood, followed by Canada and Japan. 

Exports to South Korea have increased by nearly 20 percent since last year, however exports to multiple European Union countries have declined.

Zepol Corporation is a Minnesota-based company working to provide the most complete and up-to-date U.S. trade data through our subscription tools. TradeIQ™ is a U.S. Customs import Bill of Lading database utilized to find information about competitors, suppliers, prospects, and the products that they use, market, or transport. TradeView™ provides U.S. Census data to visualize the U.S. import and export market. ComplianceMonitor™ is a comprehensive tool that proactively alerts users of essential U.S. import trade compliance information. For more information visit www.zepol.com.

 

December 2012 - SeaFood Business   

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