Seafood exports rise 4.3% to $8 billion in 2022-23
India's seafood exports rose by 4.31 per cent to USD 8.09 billion in 2022-23 on account of a jump in the shipments of frozen shrimp, the commerce ministry said on Wednesday.
India's seafood exports rose by 4.31 per cent to USD 8.09 billion in 2022-23 on account of a jump in the shipments of frozen shrimp, the commerce ministry said on Wednesday. In volume terms, the exports increased to 17,35,286 tonnes in the last fiscal against 13,69,264 tonnes in 2021-22.
"Frozen shrimp remained the major export item in terms of both quantity and value while USA and China turned out to be the major importers of India's seafood," it said.
Frozen shrimp exports increased to USD 5.48 billion in 2022-23. The sector accounts for about 41 per cent of India's total seafood exports in volume terms. The US is the largest market of frozen shrimp, followed by China, the European Union, South East Asia, Japan, and the Middle East, the ministry said.
The other segments which recorded a healthy growth in exports include black tiger, shrimp, frozen fish, frozen octopus, canned products, and frozen lobster. It added that the US continued to be the major importer of Indian seafood in value terms with an import worth USD 263 billion in the last fiscal.
"Exports to the US declined by 21.94 per cent in USD terms due to sluggish demand," it said. China emerged as the second-largest seafood export destination.
Catch the latest stock market updates here. For all other news related to business, politics, tech, sports and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
08:16 PM IST