GDP's value in the fisheries sector until the third quarter of 2021 has grown by 4.55 percent. This value is higher than fisheries GDP in the third quarter of 2020. Based on these figures, the performance in the fisheries sector during the first quarJakarta (ANTARA) - The value of the gross domestic product (GDP) contribution and exports of marine and fishery products has increased in 2021, in line with national economic recovery, Maritime Affairs and Fisheries Minister Sakti Wahyu Trenggono has noted.
"GDP's value in the fisheries sector until the third quarter of 2021 has grown by 4.55 percent. This value is higher than fisheries GDP in the third quarter of 2020. Based on these figures, the performance in the fisheries sector during the first quarter to the third quarter of 2021 still indicates an increase compared to 2020," he said during a joint working meeting with Commission IV of the House of Representatives (DPR) at the Parliament Building here on Wednesday.
According to the minister, GDP growth in the fisheries sector has not taken into account the growth of businesses in the marine and fisheries sector under the ministry's authority, based on the Job Creation Law and its derivative regulations.
This growth does not involve fishery product processing commodities, salt commodities, biopharmacology, and biotechnology from marine products and marine services, he pointed out.
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Trenggono further said that the export value of fishery products in 2021 reached US$5.72 billion, an increase of 9.82 percent compared to the previous year.
Meanwhile, the import value of fishery products reached US$0.5 billion, leading to a trade balance surplus of US$5.22 billion, an increase of 9.2 percent compared to 2020, he added.
The exports value and the trade balance surplus in the fishery sector have consistently increased in the last five years, he said. The value of fishery exports in 2017 increased by US$4.52 billion, while the trade balance recorded a surplus of US$4.09 billion, he added.
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"The five leading commodities whose export value has increased are shrimp, skipjack tuna, octopus cuttlefish, crab, and seaweed. Meanwhile, the five main export destinations are the United States, which is the highest, then China, ASEAN countries, Japan, and the European Union," Trenggono informed.
The commodities that have recorded the highest export value are shrimp (accounting for US$2.23 billion, or 38.99 percent of total exports), skipjack tuna (US$0.73 billion or 12.82 percent), octopus cuttlefish (US$0.62 billion or 10.83 percent), crab (US$0.61 billion or 10.69 percent), and seaweed (US$0.35 billion or 6.04 percent), he said.
The main commodities that have reported the highest increase in export value are crab, whose value has increased by 66.31 percent, seaweed (up 23.44 percent), and octopus cuttlefish (up 21.54 percent), he added.
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Translator: Katriana
Editor: Fardah Assegaf
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