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New Zealand's Fish Resource Valued at $4 Billion

NEW ZEALAND - The asset value of New Zealands commercial fish resource in 2008 was estimated at $3.97 billion, Statistics New Zealand said today.

From 1996 to 2008, New Zealand’s commercial fish resource, as managed under the quota management system (QMS), increased in value by 45 per cent, up from NZ$2.74 billion in 1996. This information comes from the Fish Monetary Stock Account: 1996–2008, released today, an update of the 2007 report.

In 2008, 20 species contributed 90 per cent of the total value of the resource. Eighteen of these species have been managed under the QMS over the entire 1996–2008 period. The number of species managed under the QMS has risen from 32 in 1996, to 96 species in 2008.

The 2008 asset value is 2.6 per cent above the previous high of NZ$3.87 billion in 2004. Economic conditions, such as a declining exchange rate for the New Zealand dollar later in 2008, combined with rising world food prices, resulted in higher export earnings for fish products. This has affected the asset value of the commercial fish stock.

Due to data limitations, the valuation currently excludes recreational and customary catch, species reared under aquaculture conditions, and commercial species not currently managed under the QMS. These are areas for future development.

The Fish Monetary Stock Account: 1996–2008 is part of a series of statistics that can be used to monitor the interaction between the economy and the environment. The full report is available on the Statistics NZ website (www.stats.govt.nz).

Further Reading

- You can view the Fish Monetary Stock Account: 1996–2008, by clicking here.

the Fish Site Editor

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