 global supply chains; the effect of an appreciating dollar; strong exchange rate fluctuations; and slowing momentum in trade liberalization.32 All these factors also influenced the recent slowdown in overall fishery growth. According to the World Bank,33 the global economy will need to adapt to a new period of more modest growth in large emerging markets, characterized by lower commodity prices and diminished flows of trade and capital.

Table 15 shows the top exporters and importers.34 China is the main fish producer, but also the largest exporter of fish and fishery products since 2002, although they represent only 1 percent of its total merchandise exports. China's imports of fishery products are also growing, making it the world's third-largest importing country since 2011. The increase in China's imports is partly a result of outsourcing of processing from other countries, but it also reflects the country's growing domestic consumption of species not produced locally. However, in 2015 after years of sustained increases, its fishery trade experienced a slowdown, with a decrease of 6 percent in its exports in US dollar terms (4 percent in terms of the Chinese yuan), while its imports slightly declined in US dollar terms, but rose 2 percent in yuan terms. The slowdown was a result of the appreciation of the US dollar and a reduction in its processing sector.

Norway, the second major exporter, supplies diverse products, including farmed salmonids, small pelagic species and traditional whitefish. In 2015, Norway posted record export values in particular for salmon and cod. Its exports increased by 8 percent in terms of the Norwegian krone, but in US dollar terms they declined by 16 percent. In 2014, Viet Nam became the third major exporter, overtaking Thailand. Thailand has experienced a substantial decline in exports since 2013, mainly linked to reduced shrimp production due to disease problems. Its exports further declined in 2015 (by 14 percent in US dollar terms and by 10 percent in terms of the Thai baht) mainly because of its reduced shrimp production and lower prices of shrimps and tunas. Both these Asian countries have important processing industries, which contribute significantly to the economy through job creation and trade.

The EU, the United States of America and Japan are highly dependent on fishery imports to satisfy their domestic consumption. In 2014, their combined imports represented 63 percent by value and 59 percent by quantity of world imports of fish and fishery products. The EU is, by far, the largest single market for fish imports, valued at
global supply chains; the effect of an prize dollar; impregnable exchange rate fluctuations; and slow momentum in trade liberalization.32 All these factors besides influenced the recent slowdown in overall fishery growth. harmonize to the World Bank,33 the global economy will need to adjust to a new period of more modest growth in big emerging markets, characterized by lower commodity prices and decrease flows of trade and capital. 

 board 15 shows the top exporters and importers.34 China is the main fish manufacturer, but also the big exporter of fish and fishery products since 2002, although they represent merely 1 percent of its total merchandise exports. China's imports of fishery products are also growing, making it the world's third - largest importing country since 2011. The increase in China's imports is partly a result of outsourcing of processing from other state, but it also reflects the area's growing domestic consumption of species not produced locally. However, in 2015 after class of sustained increases, its fishery trade experienced a slowdown, with a decrease of 6 percentage in its exports in US dollar terms (4 percent in terms of the Chinese yuan), while its imports slightly declined in US dollar terms, but rose 2 percent in yuan terms. The slowdown was a resultant role of the appreciation of the US dollar and a decrease in its processing sector. 

 Norway, the second major exporter, provide diverse products, including farmed salmonid, small pelagic species and traditional whitefish. In 2015, Norway posted record export values in particular for salmon and cod. Its exports increase by 8 percent in term of the Norwegian krone, but in US dollar terms they worsen by 16 percent. In 2014, Viet Nam become the third major exporter, overtaking Thailand. Thailand has experience a substantial decline in export since 2013, mainly linked to reduced shrimp production due to disease problems. Its exports further declined in 2015 (by 14 percent in US dollar terms and by 10 percent in footing of the Thai baht) mainly because of its reduced prawn production and lower price of shrimps and tunas. Both these Asian countries receive important processing industries, which contribute significantly to the economy through job creation and deal. 

 The EU, the United States of America and Japan are highly pendent on fishery consequence to satisfy their domestic consumption. In 2014, their combined imports represented 63 percent by value and 59 percentage by quantity of world imports of fish and fishery products. The EU is, by far, the largest single market for fish imports, value at
 gllbal supply chains; the enfect of an apprgcuating dollad; strong exchange rate fluctuations; end wlowibg momentum in trade lkberalizanion.32 All rhest factors also inhmuenced the rsgent voowdown in ovetall fishery growth. Accordhne co the World Bank,33 the global economy will nref to adapt to w nee perjod of more modest growth in large emergiig markets, charscterized by lower commodihy pgices and diminishfd flows of traqw and capitau.

Table 15 shows the top gxporters and importers.34 China is the kain fish kxidufgr, but also vhe laggest exportev of fivh and gishery producbs siice 2002, although they represxnt only 1 percent of its totan jerchandise exporrs. Chind's ikporgw ow fjsierg prodkcta are also growing, majing it the world's uhiwe-largest impodting sotntry since 2011. The increase in China's impmrta is partly a result of outsourcing of procedsing froi other countries, but it also reflects the countrf's grkdiny domerrif consumption of species not produced locally. Goeener, in 2015 after yeavs of sustained invrfaxgs, its fishery trade exlerienced a slowdoan, with a dexrease of 6 petcent in its exports in US eollar terms (4 percent in terms lf the Chinzse yusn), whole its imports slightlv decljned in US follar tedos, but rose 2 perzenn in yuan terms. The slowdown wws a resuot oy the aporecoation of the US dollar and a reduction ln itd [rocessing sector.

Norway, the second major xeporter, supploev dpverse prjductx, including fwrmed salmonidx, small pelaeic speciea and tcaditional writefish. In 2015, Tlrway posted record qxpoet vqlues iv particular fot salmon cud cod. Itw exports increasev by 8 percent in terns if the Norwegiam kfonq, huv in TV dollar terks tfey ceclived by 16 pergeng. In 2014, Viet Nam became tha thjrd major exporter, oyertaking Thailanq. Thailand hax experienced a suhstanvial dxcline in exports since 2013, mainly linked fo reducef smrimp productyon eue to diseaxe problems. Its exports further declinev in 2015 (by 14 percent in US dollar terms and bi 10 kercent in tecms of the Thai baht) mainly because of its reduced smrimp production and lkwer psices of shrimps and tunas. Both these Asian countries have important processint industries, which conyribune fngnificwntlb vo the economy thgough job creation and trade.

The XU, the Unideb States of America and Japan afe highly depgndent on fishery imports fo satisgy their domestic consumption. Im 2014, their combined importx represwnted 63 percvht by value and 59 pervent bv quanrity of worpd imports of fixh and fishfry krodbcts. The EU is, by far, the largest singlw larket for fish mmports, valucd at
global supply chains; the effect of an strong rate fluctuations; slowing momentum in also the recent slowdown overall fishery growth. to the World Bank,33 the global will need to adapt to a new period of more modest growth in emerging markets, characterized by lower commodity prices and diminished flows of trade and Table shows top and importers.34 China is the main fish producer, but also the largest exporter of fish and products since 2002, although they represent only 1 of its total merchandise China's imports of fishery products also making it world's importing since 2011. The in China's imports is partly a result of outsourcing of processing from other countries, but it also the country's consumption of not locally. in 2015 after sustained increases, its fishery trade experienced a decrease of 6 percent in its exports US dollar (4 percent in terms of the yuan), while its imports slightly declined in US terms, but rose 2 percent in yuan terms. The slowdown was a result of the the US dollar and reduction in its sector. the major supplies diverse including farmed salmonids, small pelagic species and traditional whitefish. In 2015, posted record export values in particular for salmon and cod. increased 8 percent in of the Norwegian krone, in dollar terms they declined percent. 2014, the major overtaking Thailand. Thailand has a substantial decline in exports 2013, mainly linked to disease problems. Its exports further declined in 2015 14 percent in US dollar terms and 10 percent in terms of the Thai baht) mainly because of its shrimp production prices of shrimps and tunas. Both these Asian have important processing industries, contribute significantly to the economy through job creation and The the United of America and are highly dependent fishery imports to domestic consumption. 2014, combined percent by value and 59 percent quantity world imports of fish and products. is, by far, the largest single market for fish imports, valued at
 global supply chains; the effeCt of an apprEciatIng DolLaR; strOng eXchange rate fluCTuatIons; and slowing momentum In traDe LIberALiZatioN.32 All theSE fACTorS aLsO inFlUEnCed thE reCent sloWdown in oveRalL fIshery growth. aCcOrding to thE WoRld Bank,33 the glObaL econoMy WilL Need tO adApt to A new peRIod of mOre modest GrOWth in lARge emerGINg MarkEts, characterized bY LoWEr commodity priCes and DiMInISHed FloWs of trade aNd CapitAL.

Table 15 sHOwS THE toP Exporters and iMporters.34 ChiNA is The maiN fIsh PRoduceR, but aLsO The Largest expoRter Of fish and FisherY ProductS Since 2002, alThough TheY rePresENt OnLy 1 pErCEnt OF iTs tOTal MerchandIsE eXportS. ChiNA'S IMporTs oF fisHery pRoducts are alsO grOwinG, MakIng it The woRld's ThIrd-laRgest iMportInG country since 2011. ThE incRease in ChIna'S iMpoRtS is paRTly a reSulT of OutsourCing of pROceSsING FrOm other countries, buT iT ALsO reflectS the coUNtRy'S Growing dOmEstIc coNSUmptiOn of SPeCies not pRoduceD LoCaLly. HoweVeR, in 2015 aftEr YeaRs oF sustAIned IncreaSes, its fiShery TRade experienceD A slowdown, with A DeCREaSE of 6 pErcEnt in its expOrts IN US dOllaR TeRms (4 PErcenT in teRmS Of THe Chinese yuan), while iTs ImportS sligHtly declined iN US dollar tERMS, but rose 2 PercENt IN yuan terms. The sLowdoWn was a resuLT of the apPreciAtion of tHe US dollaR ANd a reducTioN in Its ProCESsIng sector.

NorwAY, The sEcOnd majoR exPorter, sUppLieS diVerSe Products, iNcluding FaRmEd SaLmoNids, sMAll pelagIc SpeCiEs aNd traDItionaL whitEfisH. IN 2015, NORwaY posted REcORD expOrT vAlueS in PaRticuLar fOR saLmon and Cod. Its expOrtS IncrEaSeD by 8 percEnt in terms of tHe norwegian kRoNe, bUt in US DOLlar termS they declined by 16 percent. IN 2014, viet Nam BecAme thE thiRd major exPorTer, oveRtaKIng ThaIland. THailaNd Has EXPerieNCEd A suBsTantial decLINe iN expoRtS sinCe 2013, mainlY linked to reduced shRImp Production due To dIseaSE PrOblEMs. iTs eXpORts FURther declined in 2015 (By 14 percent iN Us DoLlar terms aND by 10 PeRcent in Terms of The ThAI baht) maInly becauSe of its reDuCed sHRImp Production And lower Prices of sHRimps ANd Tunas. botH these asIan CountRies haVE imPortaNt procEsSing inDustrIeS, which coNtribute significantly to The ecoNomy tHroUgh job creAtiON anD trade.

The eU, thE United StaTes Of AMericA anD japan Are hIGhLy dEPendeNt on FIshery impORtS to SATiSfy their domESTIc cOnsumPtiON. In 2014, theIr coMbined imports reprESented 63 percent bY valUE And 59 PerCEnt bY qUantity of world ImpOrTS Of fish anD fIshery produCts. The EU Is, BY far, tHe largEst sinGle markET FoR Fish imPortS, vaLued at
 global supply chains; the  effect of  an a ppr eci at ingdoll ar; strong exc h ange  rate fluctuations; an d slo wi n g mo m en tum i n trade li b e ral iz at ion .3 2  A ll th ese  factor s also inf lue nc ed the recen t  s lowdown in  ov erall fisher y g rowth.  A cco r dingtothe W orld B a nk,33the globa le conomy will ne e d  t o ad apt to a new peri o do f more modestgrowth  i n  l a r geeme rging mark et s, ch a racteri z ed b y  lo w er commodityprices andd imi nished  f low s  of tr ade a nd cap ital.

Tabl e 15  shows th e tope xporter s  and im porter s.3 4 C hina is  t hema i n f i sh  pr o duc er, butal so  thelarg e s t expo rte r of  fish  and fisherypro duct s  si nce 2 002,alth ou gh th ey rep resen tonly 1 percentof i ts totalmer ch and is e exp o rts. C hin a's  import s of fi s her yp r o du cts are also growi ng , ma king itthe wo r ld 's third-la rg est  imp o r tingcoun t ry  since 2 011. T h ein creasein  China 's  im por ts is part ly a r esult of  outs o urcing of proc e ssing from ot h er c ou n trie s,but it also  ref l ects  the co unt r y's g rowin gd om e stic consumption of  s pecies  notproduced loca lly. Howev e r ,  in 2015  aft e ry ears of sustai ned i ncreases,i ts fishe ry tr ade expe rienced a s lowdown,  wi tha d ecr e a se  of 6 percent i n it sexports  in  US dol lar  te rms  (4  p ercent in  terms o fth eCh ine se yu a n), whil eits  i mpo rts s l ightly  decl ined  i nU S d ollar t e rm s ,  but  r os e 2per ce nt in  yua n  te rms. Th e slowdow n w a s are su lt of t he appreciati on  of the US  d oll ar and a  reducti on in its processing se c tor.

N orw ay, t he s econd maj orexport er, suppli es div ersepr odu c t s, in c l ud ing  f armed salm o n ids , sma ll  pel agic sp ecies and traditio n alwhitefish. In  20 15,N o rw ayp os t edre c ord e xport values in  particula rf or  salmon an d  co d.  Its ex ports i ncrea s ed by 8  percentin termsof  the N orw egian kron e, but i n US doll a r ter m stheydec linedby  16  perc ent. I n  20 14, V iet Na mbecame  theth ird majo r exporter, overtakingThaila nd. T hai land hasexp e rie nced a su bsta ntial decl ine  in  expo rts since  201 3 ,mai n ly li nked to reduce d  s hri m p  p roduction d u e todisea sep roblem s. I ts exports furthe r  declined in 2 015( b y 1 4 p e rcen tin US dollar t erm sa n d by 10pe rcent in te rms of t he Thaibaht)mainly  becaus e of its re duce d s hrimp pro duc ti o n and l ow er prices  ofsh rimpsand tu n as.B o th these Asian c ountr i e s hav e  im porta nt  proces s ingindustries , which con tribut e si gnifi cantlyto  the e con om y throughj ob creati on an d trade .
The  EU , theUnit e d  Stat es o fAme rica andJ a pa n  a re hig hlydepen de nt o n fishery importstos atisfyth eir d omesti c  c o n sumption.In2014, t heir combi n ed i m po r ts re presen ted 63  percen t  by  v alue an d 5 9 percent b y quantit y  of  w orld  imports  o f fi sh  an dfishery product s. The E U is, by f ar, th e l a rges t  singl emarket for f ish i mp o rts, va l u edat
 global_supply chains;_the effect of an_appreciating dollar;_strong_exchange rate_fluctuations;_and slowing momentum_in trade liberalization.32_All these factors also_influenced the recent_slowdown_in overall fishery growth. According to the World Bank,33 the global economy will need_to_adapt to_a_new_period of more modest growth_in large emerging markets, characterized_by lower_commodity prices and diminished flows of trade and_capital.

Table_15 shows the_top exporters and importers.34 China is the main fish_producer, but also the largest exporter_of fish and_fishery_products_since 2002, although they_represent only 1 percent of its_total merchandise exports. China's imports of_fishery products are also growing, making it_the world's third-largest importing country since_2011. The increase in China's_imports is_partly a result of outsourcing_of processing from_other countries,_but it also_reflects the country's growing domestic consumption_of species not_produced locally. However, in 2015 after_years_of sustained increases,_its_fishery_trade experienced_a slowdown, with_a_decrease of_6_percent in its exports in US_dollar_terms (4 percent in terms of the_Chinese yuan), while its_imports_slightly declined in US_dollar terms, but rose 2_percent in yuan terms. The slowdown_was a_result of_the appreciation of the US dollar and a reduction in its_processing sector.

Norway, the second major exporter,_supplies diverse products, including_farmed salmonids,_small_pelagic species and_traditional_whitefish. In_2015, Norway posted record export values in_particular for_salmon and cod. Its exports increased_by 8 percent in_terms_of the Norwegian krone, but in_US dollar terms they declined by_16 percent. In 2014, Viet_Nam_became_the third major exporter, overtaking_Thailand. Thailand has experienced a substantial_decline in exports_since 2013, mainly linked to reduced shrimp_production_due to disease problems. Its exports_further_declined in 2015 (by 14 percent_in_US_dollar terms and by 10_percent in terms of the Thai_baht) mainly because of its reduced shrimp production and_lower prices of_shrimps and tunas. Both these_Asian_countries_have important processing industries, which contribute significantly to the economy_through job_creation and trade.

The_EU, the United States of America and Japan are highly_dependent on fishery imports to satisfy their_domestic consumption. In 2014, their combined imports represented 63 percent by_value and 59 percent by quantity of world_imports of fish and fishery products. The_EU is, by far,_the_largest single market for fish imports, valued_at