Commercial fish resource valued at $3.8 billion

The asset value of New Zealand’s commercial fish resource in 2007 was estimated at $3.8 billion, StatisticsNew Zealand said today.

From 1996 to 2007, New Zealand’s commercial fish resource, as managed underthe quota management system (QMS), increased in value by 39 percent, from $2.7 billion in 1996.

Thisinformation comes from the Fish Monetary Stock Account 1996–2007, an update of the Fish MonetaryStock Account 1996–2006, released today.

In 2007, 20 species contributed 90 percent of the total value, 18 of which have been managed under theQMS over the entire 1996–2007 period.

The total number of species managed under the QMS increasedfrom 32, in 1996, to 96, in 2007.

The total asset value recorded in 2007 declined by 1 percent since a high of $3.9 billion in 2004.

Economic conditions, including the high value of the New Zealand dollar and increasing fuel prices, are likely to havehad an impact on the asset value of the commercial fish stock.

Due to data limitations, this valuation currently excludes recreational or customary catch, species rearedunder aquaculture conditions, and commercial species not currently managed under the QMS.

These areareas for future development within the report.The Fish Monetary Stock Account 1996–2007 and associated tables are available on the Statistics NZwebsite (http://www.stats.govt.nz/ ).

This report is part of a series of statistics that can be used to monitor theinteraction between the economy and the environment.