Irish seafood export earnings fell marginally during a record year for investment in the industry, according to Bord Iascaigh Mhara (BIM).

Farmed shellfish production is also performing relatively better than farmed fin fish, the sea fish authority's 2004 annual review, published yesterday, states.

A "buoyant" domestic market saw retail sales of seafood increase by almost 5 per cent to €143 million last year, while the export market, valued at €377 million, recorded a 1 per cent decline.

Sales to the leading export market - France - fell by 6.6 per cent in 2004, but France still accounts for 22.5 per cent of total Irish seafood sales abroad.

Investment under the various National Development Plan programmes run by BIM for the seafood industry amounted to €51 million last year, which was supported by national and EU grant aid of €17 million.

This broke down into €10.3 million grant aid towards a total investment of €34.5 million in fleet development and fisheries; €5.3 million towards a €12.3 million investment in aquaculture; and €1.5 million towards a €4.2 million investment in processing and marketing.

Some 20 new vessels were commissioned for the whitefish fleet last year, and another three this year, under the national fleet development programme.

Over the past six years, some €119 million has been invested in 62 new vessels.

However, the European Union's decision to attach quotas to deep water stocks last December will have significant implications for some of the new vessels, built to target these species.

Several new pelagic vessels were also built without grant-aid. A 27 per cent drop in the mackerel quota was compensated for by stronger markets, higher prices, and an increased quota for blue whiting, the BIM review notes.