In 2008, the production of cultivated shrimp was 30 million pounds and 3.195 million pounds of dragged shrimp.
Ervin Sanchez wrote in his article Elnuevodiario.com.ni: "In fact, according to government information, shrimp exports left the nation a total of $56 million in a season with reduced sales due to the global financial crisis. In this sense, the same thing happened to Nicaraguan lobster production, which reached 2.8 million pounds in 2008, and the export of this product left the country about $40 million."
Nicaraguan cultured shrimp exports have diversified into Egypt, China, Russia, Puerto Rico, and Mexico.
This is due to the financial crisis which affected its main shrimp markets (Spain, Europe and the United States), the economic takeoff of some developing countries, and diseases currently affecting production, especially in China.
The shrimp industry, which exported $52.8 billion in 2011, is seeking to improve infrastructure and implement improved farming technologies.
The production of shrimp and fish farming generates more revenue than deep-sea fishing, as reports by Electronic Service for Export Authorization (SEADEX) and the Committee on Fisheries and Aquaculture of the Guatemalan Association of Exporters (Agexport) clearly show .
In Panama, Cocle shrimp sales rose in the first quarter, up 14% compared to the same period in 2011, reaching a value of $3 million.
Companies and authorities expect an increase of 30% of shrimp exports only in the province of Cocle.
"Already during the first quarter of this year, exports of this marine product from the Cocle province have increased and up to April nearly half a million pounds were exported, generating sales of around $3,148,000," reported Prensa.com.
Shrimp exports fell to 5.8 million pounds during the first quarter of this year, 43% less than during the same period in 2008.
The drop in demand for the product in international markets and the decline in international prices, both a product of the global economic crisis, are the main factors behind the sharp drop in exports from an industry had been registering increases of up to 232% percent in sales abroad during the last three years.
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