The international trade in fish has grown steadily over the years probably due to the increase in supply (mainly from aquaculture) and the growing demand in major markets. The global imports of fishery products grew by 31% over the past ten years from US$ 52.1 billion in 1994 to US$ 68.3 billion in 2003, representing an average increase of 3.5% per annum. Similarly, the value of global exports (fob price basis) also recorded a parallel growth of 3.5% per annum, reaching US$ 63.5 billion by the year 2003.

Shrimp, tuna and cephalopods are the main products traded in the international market. Global shrimp imports have increased over the past three years to reach US$ 11.6 billion in 2003, even though it is still lower than the highest recorded at US$ 12 billion in 2000.

Tuna remains the second most important commodity among fishery products traded in the global market, global import reaching US$ 6.5 billion in 2003, a 10% increase over the previous year. The Middle East is one of the most important markets for canned tuna with Thailand and the Philippines as the main suppliers.

By region, Europe, North America and Asia continue to be the main markets for fishery products, importing more than 95% by total value in 2003. Europe by far is the largest market, importing more than US$ 29 billion of fishery products in 2003, followed by Asia (US$ 22.7 billion) and North America (US$ 13.7 billion).

Due to the long economic recession in Japan, imports of fishery products into Asia dropped from the highest level of US$ 25.2 billion in 1995 to US$ 22.7 billion in 2003. Other Asia too, is increasingly becoming an important market for fishery products, particularly the Far East and South East Asia region (China, Hong Kong, S. Korea, Malaysia, Singapore, Thailand and Taiwan) followed by the Middle East.

Due to the high disposable income and the changing life style of the consumers, the Middle East is becoming the main target market for producer countries all over the world. Imports of fishery products into the region have grown very much over the years to serve the growing local markets as well as for re-processing and re-export. Imports of fish and fishery products into the Middle East doubled over the past ten years from 214,362 MT worth US$ 264.5 million in 1994 to 407,729 MT valued at US$ 612 million in 2003, representing an increase of 90% and 131% in terms of quantity and value, respectively.

Shrimp, cephalopods, canned seafood, fresh and frozen seafood and fresh water fish like tilapia and carps are the main products imported into the region. Saudi Arabia, Kuwait, UAE, Jordan, Egypt, Syria and Iran are the main markets for fish and fishery products.

The huge number of expatriates and foreign workers in the Middle East is also a significant factor contributing to the growth in demand for imported fishery products. Thailand is aggressively promoting its canned seafood products in the region, while India, Taiwan and other South East Asian countries are now promoting freshwater fish like tilapia and carp.

Halal food products, including halal seafood products, are yet another range of items that has huge potential in the region.