Shrimp exports surge in 2024 and growers expect more growth in 2025 as demand increases

Ecuador’s exports of tuna in 2024 recorded an impressive 29.6% increase over 2024 and growers predict another banner year for 2025. The National Chamber of Tuna Processors (Ceipa) reported that tuna shipments totaled 577 tons for the year on sales of 2.26 billion dollars.

Workers at a Manabí Province tuna processing facility.

According to Ceipa, the 2024 totals set an all-time record for Ecuador shrimp exports.

This remarkable export growth is attributed to several factors, including the abundance of raw materials, strengthened consumer confidence, and the growing global preference for tuna products, according to Mónica Maldonado, Executive Director of the Tuna Chamber.

Canned tuna, with a value of $1.328 billion, accounted for 84.1% of total exports, while precooked loins made up 15.9%, reaching $250.3 million, Maldonado said.

The growth of the tuna industry has also had a direct impact on job creation. Currently, the sector provides 20,000 direct jobs and 100,000 indirect jobs. Across the entire processed tuna value chain, employment reaches 500,000 jobs, according to Ceipa.

The growth has significantly boosted the economies of coastal provinces such as Guayas, Manabí, and Santa Elena, where most of the country’s tuna production and processing is concentrated.

Another product showing significant growth in exports was fishmeal, which saw a 20.9% rise in value and a 37.1% increase in volume.

Fresh and frozen fish also performed positively, with value growth of 32.3% and 25.3%, respectively.

The European Union solidified its position as the primary destination for Ecuadorian fishery exports, accounting for 48% of total shipments. It was followed by the United States (15.98%), Latin America (20.91%), and China (5.1%).

At the country level, Spain was the largest buyer, importing $413.5 million worth of Ecuadorian fishery products, followed by the United States ($360.7 million) and Colombia ($181.5 million).

In 2024, the fishing sector, excluding shrimp, contributed 1.15% to the national Gross Domestic Product (GDP), reaching 3% in Manabí, one of the leading producing provinces.

Much of the growth in 2025 and the beyond, says Maldonado, will come from China. “Based on conversations with buyers, we expect to see Chinese sales to triple over the next three years,” she says, attributing the much of the growth to the new shipping port in Chancay, Peru. “This is a game changer for us since it reduces shipping times to China and other destinations and I expect see many more containers of shrimp and other seafood product shipping out of Guayaquil in the coming months and years.”

Tax contributions from the tuna sector and fishing sector in general, accounted for 1.52%, or $300 million, of the national total in 2024.