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Landings to Irish ports valued at €434million (+15%) in 2019

Landings of high value species including hake, monkfish and megrim resulted in an increase (+15%) in the overall value of landings to Irish ports in 2019 according to the latest BIM Business of Seafood report. Strong demand for Irish mackerel at the beginning of 2019 following a quota decrease also contributed to this increase.

Exports of farmed Irish organic salmon also experienced significant increases (+26%) last year and were valued at €104 million.

Overall, Ireland’s seafood economy experienced a slight drop (-2%) in 2019 compared to 2018, giving it a total value of €1.22 billion. This was largely driven by a 4% reduction (-€10 million) in private investment and a 2% decline (-€11 million) in exports as global market confidence weakened due to Brexit, trade disputes and the impacts of climate change.

The fundamentals of the sector remained strong in 2019, however, with a 4% increase in government support (€177 million) and a 2% rise in domestic consumption to €496 million. This largely offset the slight fall in private investment to €258 million (-4%) and a decline in our seafood balance of trade (exports – imports) which fell by €31 million (-10%) to €285 million. Overall investment in the sector was €435 million, equivalent to 36% of seafood GDP, nearly the same as in 2018, showing confidence in the sector remains stable.

BIM’s 2019 Business of Seafood report is available for download here (pdf 3,942Kb)  

Initial Publication Date: 
Thursday, 23 April, 2020