Dec 31 2007 | China, Peoples Republic of | Annual
Highlight: In 2008, China's aquatic production is forecast at 56.2 MMT, up from the estimated 54.7 MMT in 2007. Production growth is mainly driven by strong domestic consumption due to greater disposable income growth and export-oriented aquatic processing. Aquatic trade value is forecast to increase from the estimated $9 billion for export and $3.6 billion for import in 2007 with trade surplus approaching $6 billion. China is the largest importer of U.S. seafood products, while the United States is the second largest buyer of China's aquatic products. The new U.S.-China Agreement on Food and Feed Safety is expected to enhance the safety of China's aquatic product exports to the United States and facilitate trade in 2008 and beyond.
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