The gross value of Australian fisheries production fell by 5.5 per cent to $2.3 billion in 2002-03’, Dr Brian Fisher, ABARE’s Executive Director, said today when releasing Australian Fisheries Statistics 2003.

‘The value of aquaculture rose by 1.5 per cent to $743 million in 2002-03, while the gross value of wild caught production fell by 8 per cent to $1.6 billion, from $1.8 billion in 2001-02. The main reason for the fall in gross value was lower export prices for many species, including tuna, abalone, prawns, rock lobster and scallops’, Dr Fisher said.

Aquaculture’s share of the total gross value of Australian fisheries production rose slightly to 32 per cent in 2002-03.

The value of Australian seafood exports fell by 11 per cent to $1.5 billion in 2002-03. Australian seafood imports continue to grow, with the value of imports increasing by 7 per cent to $950 million in 2002-03.

In releasing the report, Dr Fisher acknowledged the financial assistance of the Fisheries Research and Development Corporation in undertaking this research.

Further information on Australian aquaculture from ABARE: Aquaculture ; Status and trends reporting ; Aquaculture investment ; Industry profiles ; Import competitiveness