Media Release

For immediate use 3 April 2003

WHAT'S THE AUSTRALIAN FISHING INDUSTRY WORTH?

The fishing industry is Australia's fourth largest food industry with a gross value of production of $2.41 billion.

The latest information on the economic contribution of the industry is outlined in Australian Fisheries Statistics 2002, launched today by Senator the Hon. Ian Macdonald, Minister for Fisheries, Forestry and Conservation.

The report contains comprehensive data on the volume and value of production from state and Commonwealth fisheries, and the volume and value of Australian fisheries trade, by destination, source and product, for the three years to 2001-2002.

ABARE Chief Economist, Ms Rhonda Treadwell, said Australian fisheries production rose by 1.8 per cent in 2001-02 to around 233 000 tonnes. However, with falling unit values for many species, the gross value of fisheries production in 2001-02 fell slightly by 0.8 per cent to $2.41 billion.

Aquaculture and Commonwealth wild caught fisheries increased their total gross value of production from 2000-01 to 2001-02, while that from state wild-caught fisheries fell. The total value of aquaculture production increased by 3.5 per cent to almost $733 million from it's revised 2001 value, while the value of Commonwealth fisheries increased by 1.0 per cent to around $481m. The value of state wild caught production fell by 2.8 per cent to $1.26 billion

Finfish production (wild caught and aquaculture) increased by 6.0 per cent to $862 million, mainly due to an increase in Commonwealth wild caught production. Crustacean production fell by 1.2 per cent to $985 million due to reduced wild caught harvests of all species except rock lobster. Mollusc production also fell to $538 million (down 4.8 per cent).

Fisheries Research and Development Corporation Executive Director, Mr Peter Dundas-Smith said the publication, developed by the Bureau of Agricultural and Resource Economics (ABARE) and funded by the FRDC, is designed to meet the needs of the Australian fishing industry and fisheries managers, policy makers and researchers.

Copies of the report are available from the ABARE website

The FRDC is a rural research and development corporation within the Commonwealth Government portfolio of Agriculture, Fisheries and Forestry - Australia (AFFA).

ENDS
Media Contact:
Ms Kylie Paulsen, Communications Manager - R&D Extension Ph: 0438 630 491
Mr Graham Love, ABARE Principal Economist, Ph: 02-6272 2055 or E-mail: glove@abare.gov.au