HS Code:
The Freshwater category, typically classified under HS Code 0302 (Fresh or chilled fish, excluding fish fillets and other fish meat), encompasses a wide range of freshwater fish species such as trout, carp, tilapia, and catfish that are traded globally for human consumption, aquaculture, and ornamental purposes. This category is critical to the global seafood market, supporting food security and livelihoods, particularly in regions with significant inland fisheries and aquaculture industries. Trade in freshwater fish is influenced by factors such as environmental regulations, aquaculture production capacity, and consumer demand for sustainable and affordable protein sources.
Total Trade Volume
USD 10.5 billion
Data from 2022
Source
United Nations Comtrade Database, World Trade Organization (WTO)
USD 3.2 billion
30.5% of total trade of total trade
Increasing
USD 1.8 billion
17.1% of total trade of total trade
Increasing
USD 1.1 billion
10.5% of total trade of total trade
Stable
USD 0.9 billion
8.6% of total trade of total trade
Increasing
USD 0.7 billion
6.7% of total trade of total trade
Stable
Average Rate
8.5% ad valorem
Highest Rate
25% (applied by certain developing countries to protect local fisheries)
Lowest Rate
0% (under free trade agreements such as EU-Norway or ASEAN agreements)
Rising demand for sustainable aquaculture products
Increased focus on certifications and eco-labeling has boosted exports from countries with stringent environmental standards, while challenging producers with less sustainable practices.
2021-2022
Growth in processed freshwater fish products
Higher value-added products like fillets and ready-to-eat meals are gaining market share, particularly in developed economies, driving up trade margins.
2020-2022
Climate change impacting production
Erratic weather patterns and water scarcity are affecting freshwater fish yields, leading to supply chain disruptions and price volatility in global markets.
2019-2022
The European Union introduced new regulations requiring traceability and sustainability certifications for all imported freshwater fish, aiming to curb illegal fishing and promote environmental standards.
June 2023
Exporters from developing countries may face higher compliance costs, potentially reducing their competitiveness in the EU market, while benefiting certified producers.
Vietnam signed new trade agreements with Middle Eastern and African countries to boost exports of pangasius, a key freshwater fish, diversifying its market beyond traditional EU and US buyers.
March 2023
This development is expected to increase Vietnamโs trade volume by 10-15% in the next two years, reducing dependency on major markets and stabilizing prices.
China announced significant investments in smart aquaculture technologies to enhance freshwater fish production efficiency and sustainability, targeting a 20% output increase by 2025.
January 2023
This could solidify Chinaโs position as the leading exporter, potentially oversaturating the market and exerting downward pressure on global prices.