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ECONOMIC GROWTH Economic performance - Market presence“Our primary goal is the financially, envi- ronmentally and so- cially sustainable production of aqua- culture products, en- suring the balanced growth of the envi- ronment, society and economyGRI 102-6, GRI 102-7, GRI 201-1SIGNIFICANCE FOR SUSTAINABLE DEVELOPMENTAquaculture* and more specifically fish farming, is today the most dynamically growing food production industry. According to forecasts of the Food and Agriculture Organization (FAO) and the World Bank, by 2030 over 65% of fishery products will come from aquacul- ture.The European Union accounts for 2.8% of global production (2.98 million tons), with pro- duction output remaining virtually unchanged since 2000 and imports from third countries with competitive low-cost products registering a spectacular growth. It is interesting to note here, as an indicative example, that 68% of seafood consumption in the EU is im- ported and only 10% comes from aquaculture.Aquaculture, especially fish farming, is one of the most important subsectors of the Greek primary sector and, because of its contribution to economic growth and social cohesion in the country, is of great interest. It is estimated that 63% of the Greek domestic production of fishery products comes from aquaculture and the remaining 37% from free fishing. Fish and processed fish products are one of the Greek economy’s most extroverted industries with a positive contribution to the country’s trade balance, as exports outweigh imports. It is reported that about 78% of production is exported, while the remaining 22% is sold on the domestic market. The industry creates 12,000 direct and indirect jobs, mainly in coastal or remote areas.Proper utilization of fisheries can provide nutritious food for all and create incomes, thereby supporting people-centered growth in Greece’s regions while at the same time protecting the environment.The financial results of SELONDA in 2017 were mainly affected by:• The implementation of the operating and strategic plan, which focused on the imple- mentation of a revised commercial policy, the improvement of operating efficiency and the efforts for reducing production costs./38a growing animal production industry | SELONDAhttps://www.fgm.com.gr/english/index.phpSELONDA AQUACALTURE