Seafood Industry Year in Review Released

Last year was a positive year for the province’s seafood industry, according to information and statistics published today by the Provincial Government in the annual Seafood Industry Year in Review. Total production was valued at over $1 billion, representing growth of 7.3 per cent from the previous year. Last year also represented a positive turnaround from 2009 and 2010 when the economic recession caused market values to decrease.

“The seafood industry continues to be a key employer in Newfoundland and Labrador, with over 20,000 people participating, mainly in rural parts of the province,” said the Honourable Darin King, Minister of Fisheries and Aquaculture. “We had a very positive outcome from total production in 2011 with overall excellent numbers.”

Newfoundland and Labrador’s seafood industry experienced higher market prices for key species, particularly snow crab and shrimp. This, combined with continued growth in the value of the aquaculture sector, resulted in a rise in total production value in 2011 by 7.3 per cent overall.

Commercial wild fishery landings declined slightly while aquaculture volume grew. Both industries saw a rise in production market value, up 6.2 and 1.8 per cent respectively. Despite this growth, the province’s seafood industry continued to be negatively impacted by high fuel costs and a relatively strong Canadian dollar.

Employment in the fishing industry in 2011 remained relatively on par with the number of workers recorded in 2010. Total industry employment was 21,289 workers compared to 21,426 workers in 2010.

“Our seafood industry will move forward in 2012 and flourish, through a heightened focus on industry and government collaboration and innovative marketing,” said Minister King. “Our government wants to work towards ensuring that our fishing and aquaculture industries remain sustainable and viable. Both industries will continue to be pivotal parts of our province’s economic stability. We are pleased to work with all industry stakeholders to provide dividends for Newfoundlanders and Labradorians.”

The Seafood Industry Year in Review 2011 can be found at www.gov.nl.ca/fishaq/publications/SYIR_2011_NL.pdf

- 30 -

Media contact:
Bradley Power
Director of Communications
Department of Fisheries and Aquaculture
709-729-3733, 699-5707
bradleypower@gov.nl.ca

2012 03 09                                   11:05 a.m.