$4b Value sign of Industry’s Sustainable Strength

Four Billion Dollar Value sign of Industry’s Sustainable Strength

The $2.74 billion increase in wild catch value since 1996 confirms the importance of the seafood sector to the economy said New Zealand Seafood Industry Council Chief Executive, Owen Symmans.

Information released by Statistics New Zealand today shows that our seafood industry – which is the country’s fifth largest exporter - is maintaining its strength in the current recession and remains an important contributor to New Zealand’s economy.

The figures refer to the asset value of wild catch species managed under the quota management system. Wild catch are species that are not reared under aquaculture conditions such as salmon or mussels. The Statistics New Zealand figures are a reflection of value and not of quantities.

“The seafood industry as a whole is a valuable contributor to the economy, and these figures confirm that. Not only is it pumping dollars into the country – and continuing to grow - it also provides direct and indirect employment for more than 20 000 people,” said Mr Symmans.

In 2008, 20 species contributed 90 percent 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.

“We take pride in the fact that we can contribute to sustainable economic growth, particularly during the current economic climate. New Zealand’s wild catch seafood is of high quality and sustainable, which is why it's so popular on the export market,” said Mr Symmans.

ENDS

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