Ecuador's Fishing Industry
Ecuador's fishing industry
Fishing has always been very important for Ecuador’s culture and economy. Thanks to its geographic position and two major ocean currents; El Nino current and the Humboldt Current that come together right in front of Ecuadors coasts, which generate the perfect condition for an abundance of life, nutrients and fish.
The Tuna Fishing Industry has grown to be the second largest in world, behind only Thailand. In 2017 with a 116 vessel fleet, the Ecuadorian Tuna Industry produced over 93,000 tons of fish worth over $ 1,1 billion (according to the Ecuadorian Central Bank). 80% of which is exported. Ecuador is also currently the world’s third largest shrimp producer after China and Indonesia. Exporting 438,000 metric tons of shrimp worldwide and generating jobs for approximately 200,000 people. Around 60% of Ecuadorian shrimp is currently exported to China. Ecuadorian shrimp exports in 2017 was over $3 billion. Apart from tuna and shrimp, other kinds of fisheries such as crab, shellfish, and mahi-mahi make this industry very important in Ecuador, resulting in the Seafood Industry being one of the biggest economies of the country, second only to oil export.