The value of Australia’s fisheries and aquaculture sector increased by 9 percent to more than AUD 3 billion (USD 2.3 billion, EUR 1.9 billion) in 2015-16, injecting an additional AUD 270 million (USD 207 million, EUR 174.3 million) into rural and regional economies, finds a new government report.
According to the latest “Australian Fisheries and Aquaculture Statistics,” compiled by the Australian Bureau of Agricultural and Resource Economics and Sciences’ (ABARES), wild-caught products contributed more than AUD 1.7 billion (USD 1.3 billion, EUR 1.1 billion) to the gross value, representing an increase in value of 8 percent year-on-year. At the same time, the value of its aquaculture production climbed 10 percent to AUD 1.3 billion (USD 997 million, EUR 839.3 million).
In volume terms, the fishing fleet caught 174,247 metric tons (MT) of products in 2015-16, while aquaculture’s total harvest amounted to 97,046 MT.
Rock lobster was the most valuable wild-caught species with its production value up 4 percent to AUD 695 million (USD 532.8 million, EUR 448.7 million) based on a volume of 10,102 MT, while in aquaculture, farmed salmon’s value increased 14 percent to AUD 718 million (USD 550.4 million, EUR 463.5 million) with a harvest of 56,319 MT.
Welcoming ABARES’ report, Australia’s Assistant Minister for Agriculture and Water Resources, Anne Ruston, said, “The fisheries and aquaculture industries are going from strength-to-strength thanks to Australia’s reputation as a supplier of sustainable, high-quality seafood and sensible government policies.
“The total export value of the industry increased 7 percent in 2015-16 to AUD 1.5 billion (USD 1.1 billion, EUR 968.3 million), partly due to free trade agreements (FTAs) the government has secured, helping sell our seafood products in high-valued Asian markets.
“The Turnbull Government is delivering the National Aquaculture Strategy, new FTAs and the sustainable management of Commonwealth run fisheries, all of which results in greater prosperity for our fishing regions,” she said.
ABARES’ report highlighted that the volume of fishery and aquaculture production increased by 8 percent between 2005-06 and 2015-16. During this period, the pattern of production changed significantly with a shift from the production of wild-catch stocks (down 22,681 metric tons – MT) toward production of aquaculture products (up 42,394 MT).
The volume of aquaculture products grew at an average annual rate of 6 percent from 2005-06 to reach 97,046 MT in 2015-16. Consequently, aquaculture’s share of the total seafood production value increased to 43 percent. Farmed salmonids were the main driving force behind this growth, rising by 168 percent or 35,335 MT in the 10-year period.
Furthermore, while Japan remained the main overseas destination for Australian seafood, its importance has been declining. Export growth has shifted toward the Hong Kong, China and Vietnam region, with rock lobster being the main product.
