Argentina’s fishing industry generated $2.066 billion in foreign exchange in 2025, marking a 3.9% increase over the previous year and positioning the sector as the country’s eighth-largest export industry, according to a report by the Argentine Chamber of Fishing Vessel Owners and Freezers (CAPeCA).

The year became the second-highest on record for fish exports, surpassed only by 2018, when exports reached $2.155 billion. Total overseas sales amounted to between 523,706 and 538,518 tons of fish products, according to data from CAPeCA and the Ministry of Economy, through the Secretariat of Agriculture, Livestock and Fisheries.

 

Fishing accounted for 3.9% of Argentina’s $52.611 billion in exports of Primary Products (PP) and Agricultural Manufactures (MOA) in 2025. While primary product exports rose 21.2% year-over-year and agricultural manufactures increased 2.7%, fishing exports climbed 3.9%, consolidating earnings above the $2 billion mark for another year.

Squid Drives Growth, Shrimp Weighed Down by Labor Disputes

The standout performer in 2025 was Illex squid, boosted by an excellent fishing season. Argentina exported 193,385 tons of frozen squid and jumbo squid, a 32.5% increase compared to 2024. In value terms, squid exports reached $550 million, up 47.7% year-over-year, with CAPeCA estimating an additional $178 million compared to 2024.

Source: INDEC

In contrast, shrimp exports suffered due to labor disputes during the first half of the year, which led to a reduction of approximately 40,000 tons landed compared to 2024.

Shrimp fluctuation

Exports of Pleoticus muelleri shrimp totaled 119,774 tons, representing a 22.3% decline in volume. Shrimp sales generated $867.2 million, down 12.3% compared to prior years. Specifically, whole shrimp exports fell 37.7% in volume and 24.0% in value, marking a drop of more than $125 million from 2024.

Source: INDEC

By comparison, in 2018, whole shrimp and tails exports reached $1.304 billion, whereas in 2025 they totaled just $866 million, a level similar to 2020, the pandemic year.

Shrimp tails showed slight improvement, with export volumes rising 1.2% and value increasing 0.8%.

Hake Remains Stable

Exports of Argentine hake (Merluccius hubbsi) remained relatively stable. In 2025, 123,409 tons were exported, a 1.1% increase from 2024. In value terms, hake exports generated $313 million, up 2.1% year-over-year.

Source: INDEC

However, hake fillet export value declined 2.9%, despite a 4.5% increase in average prices in December 2025 compared to the same month in 2024.

Other species showed mixed results. Black hake export value rose 21.1%, while king crab exports dropped 25.3%.

China Becomes Top Destination

In a significant shift, China overtook Spain as Argentina’s top export destination for fish products in 2025.

China imported 144,319 tons, worth $468 million, largely driven by increased Illex squid shipments. Spain followed with 70,960 tons valued at $371 million.

Top 10 destinations. Source: INDEC

Italy ranked third with 17,598 tons worth $120 million, while the United States, which had previously held third place, fell to fourth with 16,780 tons valued at $115 million.

The top three markets—China, Spain, and the United States—accounted for 49.2% of total fish export value, equivalent to $1.017 billion. The top ten destinations together represented 76.4% of total sector earnings.

The decline in shrimp production particularly affected exports to Spain and the United States, while China absorbed much of the increased squid supply.

Price Trends

Price dynamics varied by species at the end of the year:

• Whole shrimp average prices rose 28.8% in December 2025, reaching $6,642 per ton.

• Shrimp tails increased 8.1%, reaching $7,928 per ton.

• Illex squid prices edged down 0.5% compared to December 2024.

Despite challenges in shrimp production and shifting global demand, Argentina’s fishing sector maintained strong performance in 2025, supported by robust squid exports and sustained demand from Asian markets.

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