[CHINDIA Quarterly Vol.19]

Abstract

How much seafood do the 1.3 billion Chinese people consume? They eat 25% of the world’s aquatic products. Simply put, the Chinese share of global aquatic product consumption is 6%p higher than its percentage of the global population (19%). In 2011, China’s per capita consumption of aquatic products was 32.8kg. This means that 1.36 billion Chinese people consume 45 of the world’s 180 million tons of aquatic products.

Back in 2002, China’s aquatic product consumption was about 25kg per person. Buoyed by China’s growing economy, China’s annual per capita aquatic product consumption increased 7.8kg in the last ten years. An increase of 1kg in China’s per capita aquatic product consumption means that total consumption rises by about 1.36 million tons. Therefore, China’s aquatic product consumption increased by approximately 10 million tons over the last decade. 

Until recently, the increase in China’s consumption of aquatic products was due mainly to the increased consumption of freshwater species, mainly varieties of carp. While the output of marine capture fisheries has reached a plateau, marine product consumption, which was mainly focused in the east coast, has spread to the entire country. For this reason, China generally imports marine capture fish species, and is increasing fish meal imports. 

Korea’s annual aquatic product exports to China total 120,000 tons by volume and USD 300 million by value. This is just 13.2% of the quantity, and 26.3% of the value, of Korea’s imports from China. Korea’s export items to China are limited to squid and “other” aquatic products. Korea’s aquatic product exports to China are meager compared to its imports of cheap fish from China. 

Under the free trade agreement between Korea and China, China will open its aquatic product sector to Korea, and many of Korea’s aquatic products will be excluded from the concession list (tariff elimination and reduction). If Korea takes advantage of the Korea-China FTA, it will be able to expand aquatic product exports to China.