How much trade travels through the South China Sea?
A whooping 5.3 Trillion USD trade is passing through the South China Sea it every year. More than 60% of global maritime trade and more than 22% of total global trade passes through this waterbody. One third of the global shipping passes through this sea every year.
What is the volume of the South China Sea?
190 trillion cubic feet
The South China Sea holds an estimated 190 trillion cubic feet of natural gas and 11 billion barrels of oil in proved and probable reserves, with much more potentially undiscovered.
What was traded on the South China trade route?
The South China Sea is a major trade route for crude oil, and in 2016, more than 30% of global maritime crude oil trade, or about 15 million barrels per day (b/d), passed through the South China Sea.
How much trade goes through the Strait of Malacca?
Over 94,000 vessels pass through the strait each year (2008) making it the busiest strait in the world, carrying about 25% of the world’s traded goods, including oil, Chinese manufactured products, coal, palm oil and Indonesian coffee.
How many percent is the total global fish catch in the SCS annually?
produces around 5 million tones of catch each year, some 10% of the total global catch. According to Food and Agriculture Organization (FAO) fishery statistics, the SCS is grouped in Area 71 which is dominated by a large continental shelf area (Figure 4).
How much of Australia’s trade goes through South China Sea?
The economic fallout from military conflict in the South China Sea would hit every major economy in the Asia Pacific, including Australia, according to a new report. One third of global shipping – worth $4.8 trillion of international trade – passes through the waterway, which links Asia with Europe and Africa.
How much of South China Sea does China claim?
China uses a “nine-dash line,” citing maritime records from dynastic times, to claim about 90% of the 3.5 million-square-kilometer South China Sea that other governments value for fisheries and undersea fossil fuel reserves. The nine dashes cut into some nations’ exclusive economic zones.
What was traded on the sea roads?
In addition to silk, major commodities traded included gold, jade, tea, and spices. Since the transport capacity was limited, over long distances and often unsafe, luxury goods were the only commodities that could be traded.
How much trade goes through the Pacific Ocean?
In 2019, total (two way) goods trade was $1.7 billion between the United States and Pacific Island economies. U.S. goods exports totaled $1.2 billion; goods imports totaled $469 million. The U.S. goods trade surplus with the Pacific Islands was $747.7 million in 2019.
In which country does the most illegal fishing happens?
According to the UN Food and Agriculture Organization (FAO), Fisheries and Aquaculture Department, illegal fishing has caused losses estimated at US$23 billion per year, with about 30% of illegal fishing in the world occurring in Indonesia alone.
Which country eats the most seafood per capita?
In terms of consumption footprint per capita, the Republic of Korea scored highest (78.5 kg per capita), followed by Norway (66.6 kg), Portugal (61.5 kg), Myanmar (59.9 kg), Malaysia (58.6 kg) and Japan (58 kg) – China comes in seventh at 48.3 kg per capita.
Who are the countries that trade in the South China Sea?
In 2016, only five countries relied on the South China Sea for more than 50 percent of their total trade. These include, in descending order, Vietnam (86 percent), Indonesia (85 percent), Thailand (74 percent), Singapore (66 percent), and Malaysia (58 percent).
How much oil passes through the South China Sea?
Total includes small flows (less than 0.1 million barrels per day) not shown on map. The South China Sea is a major trade route for crude oil, and in 2016, more than 30% of global maritime crude oil trade, or about 15 million barrels per day (b/d), passed through the South China Sea.
Why is the South China Sea important to China?
As the second-largest economy in the world with over 60 percent of its trade in value traveling by sea, China’s economic security is closely tied to the South China Sea. As a vital artery of trade for many of the world’s largest economies, the South China Sea has garnered significant attention.
Where does LNG go in the South China Sea?
The South China Sea is also a major destination for LNG exports. About 6 trillion cubic feet (Tcf) of liquefied natural gas, or more than half of global LNG trade, passed through the South China Sea in 2011. Half of this amount continued on to Japan, with the rest of it going to South Korea, China, Taiwan, and other regional countries.