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Current Trends in the Philippines’ Shrimp Aquaculture Industry A Booming Blue Economy in the Pacific

Author

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  • Joseph Carlo V Vergel

    (Molecular Biology and Biotechnology Laboratory, University of Santo Tomas, Philippines)

Abstract

Shrimp aquaculture industry is an important source of income in the inter-tropical countries of Southeast Asia and other inter-tropical developing countries. The shrimp industry has grown rapidly and generates billions of dollars every year in trade and employs millions of people globally. World production of shrimp both captured and farmed is around 7 million metric tons. Shrimp is one of the most important internationally traded fishery commodities in terms of value. Annual reports show that exports of shrimp are currently worth more than 10 billion US dollars or 16% of all fishery exports. Currently, about 40% of the world catch of shrimp is from farming. However, the proportion of farmed shrimp in international trade appears to be much higher.

Suggested Citation

  • Joseph Carlo V Vergel, 2017. "Current Trends in the Philippines’ Shrimp Aquaculture Industry A Booming Blue Economy in the Pacific," Oceanography & Fisheries Open Access Journal, Juniper Publishers Inc., vol. 5(4), pages 85-89, December.
    • Handle: RePEc:adp:jofoaj:v:5:y:2017:i:4:p:85-89
    DOI: 10.19080/OFOAJ.2017.05.555668
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