Like wine, Australian seafood exporters suffered under an import ban imposed by China in on a range of Australian products back in 2020. Lobster export value and weight dropped to about 40% and 60% of previous highs. China accounted for almost 100% of Australian Crustacean exports in 2018 and 2019. News that China will again be open to Australian Lobster exporters is good news because China represents one of the most important markets worldwide and comes in time for the usual Dec-February peak in volumes. However, even without China, the export market has shown a degree of recovery and re-diversification, most notably to Hong Kong, Vietnam and Taiwan. This article looks at how destination and nature of the Australian crustacean export market over time.
Posts tagged as “Lobsters”
China is by far Australia’s most important trading partner. Dependence on China has increased and not decreased. Australia draws around 30% of its imports from China, up from about 21% in 2013. On the export side, China’s share of the value of Australian exports has fluctuated between 34% to 44% over the last 10 years. Most of that is driven by iron ore exports. This article looks at the trading relationship and mutual dependence between Australia and China.