The State of World Fisheries and Aquaculture 2020

part explained by the role of income levels 
in determining the types of products that 
consumers demand, in addition to different 
habits in food consumption. Another factor 
driving down the unit value of developing 
country imports is the extent of processing and 
re-export activities in these regions. 
Interregional trade flows (
Figure 31
) continue 
to be significant, although this trade is often 
not adequately reflected in official statistics, 
in particular for Africa and selected countries 
in Asia and Oceania. Oceania, the developing 
countries of Asia and the Latin America and 
the Caribbean region remain solid net fish 
exporters. Latin American exports, comprising 
primarily shrimp, tuna, salmon and fishmeal 
from Ecuador, Chile and Peru, were boosted 
in 2018. Europe and North America are 
characterized by a fish trade deficit (
Figure 32
). 
Africa is a net importer in volume terms but a 
net exporter in terms of value, reflecting the 
higher unit value of exports, which are destined 
primarily for developed country markets,