Panama: Shrimp Exports Up

In 2013, foreign sales increased by 85% compared to 2012, generating foreign exchange earnings of $76 million.

Monday, March 31, 2014

The growth in demand from Asian countries coupled with the rise in international prices explain the sharp increase in shrimp exports from Panama, which is now seeking to increase its presence in new markets.

"It is also looking to increase its presence in the U.S. after a recent visit to the seafood trade fair in Boston, which included the participation of Panamanian shrimp cultivating companies such as Camarones de Coclé y Cultosa, who were able to make contact with potential U.S. importers."

In regards to other seafood products, the Comptroller General's Office said there has been "increased exports of fishmeal and fish oil, a sector which a few years ago was also depressed."

According to an article in Capital.com.pa "in 2013 exports of fish meal and oil totaled $34.8 million, representing an increase of 76.4% compared to 2012."



More on this topic

Exports from Fisheries Grow in Panama

August 2014

Sales of shrimp, shrimp larvae, fish meal and fish oil saw the largest growth out of total exports from the country in the first half of 2014.

Between January and June exports from fisheries and the aquaculture industry were those that showed the best performance, well above traditional goods such as watermelon and pineapple, whose foreign sales decreased by 4% and 24% respectively, compared with the same period in 2013.

Revival of Fishing Industry in Panama

July 2013

The dynamism that has reappeared in exports of marine products is marked by a 88% increase in the sales of shrimp.

During the first three months of 2013, fishing activities reported the highest economic growth in the country, totaling $38.7 million versus $28.2 million reported in 2012.

Shrimp Farming Growing

May 2012

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.

More Productivity in Shrimp Farming

April 2012

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 .

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