Aquaculture fires up Irish industry
IRELAND’S seafood sector grew 6.4 per cent last year, contributing
€ 1.15 billion to the country’s GDP. The aquaculture sector performed particularly well.
This strong growth - for the third successive year - was driven by a 12 per cent increase in net exports (to € 331 million), a four per cent increase in domestic consumption (€429 million) and significant ongoing investment, both private and public (€386 million), leading to the value of trade surpassing € 1 billion for the first time.
The farmed seafood sector, including shellfish, was worth £208 million, an increase of 24 per cent on 2016.
The sector produced 20,600 tonnes of finfish (mainly salmon) and 26,400 tonnes of farmed shellfish.
Overall, salmon production was worth € 147 million, showing a growth of 25 per cent. But Irish organic salmon increased in value by 40 per cent. Production of farmed mussels rose by 53 per cent.
The figures were revealed in a report – the Business of Seafood 2017, published by Bord Iascaigh Mhara (BIM), Ireland’s Seafood Development Agency, and launched by fisheries minister Michael Creed.
Creed said: ‘This report is significant as it measures the value of the entire Irish seafood economy, capturing the value created at all stages, from sea to plate. ‘It clearly demonstrates the scale and importance of the Irish seafood sector to our economy, supporting over 14,000 jobs. ‘From a government perspective, it’s encouraging to note how public investment is helping to strengthen an already vibrant sector to the benefit of exports and job creation, particularly in rural and coastal regions.’ Jim O’Toole, CEO of BIM, added: ‘Ireland’s seafood industry is thriving. Over the last two years, the contribution of the sector to Ireland’s GDP has grown by over 14 per cent. ‘The fact trade sales have exceeded € 1 billion for the first time demonstrates the clear demand for Irish seafood.’