Ornamental fish trade in Sri Lanka: an economic perspective

Abstract

Exporting of ornamental fish is much lucrative industry in today. Sri Lanka is one of the important country in that context by having significant market share in world trade. In this paper an economic assessment of ornamental fish trade in the decade of 2000-2010, with special reference to the Sri Lanka were carried out. Annual growth rate of ornamental fish trade, compound annual growth rate, and economic measures such as Revealed comparative advantage (RCA), Relative import advantage (RMA), Relative Trade advantage (RTA), and changes in the unit value of ornamental fish over the decade of 2000-2010were studied. Relative Trade advantage and Relative competitive advantage results indicated that Sri Lanka has huge potential over the exporting of ornamental fish and it was competitive although there were fluctuations in the annual growth rate. Furthermore itis recommended that, Expansion of ornamental fish exporters, subsidies in the industry may be impetus over the increase export earnings.