The fisheries and aquaculture sector in Latin America: Exports to East Asia and production

Abstract

The Asian giant has agitated foreign trade in Latin America due to easy access to this market, tariff policies, and international agreements. In the face of a globalized world, in the last decade fisheries and aquaculture entrepreneurs of Latin American countries have taken on the challenge of getting their products known at International Fisheries and Aquaculture Exhibition fairs in Asian countries, which has generated an increase in the exportation of their products. Fishing and aquaculture exports are a variable of the economy of each country reflected in the gross domestic product and foreign exchange results. The present research work analyzed the fishing and aquaculture sector through the first difference Generalized Method of Moments estimator to establish the behavior of exports from Latin American countries to Asia, the production of each Latin American country, and the subsequent effect on the economic growth of the fishing and aquaculture sector during the period 2012–2019. The findings of this article suggest the significant positive relationship between output and economic growth, and a non-significant negative relationship between exports to East Asia and the economy.