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Commercial Fish Resource Valued at $3.5 Billion

Commercial Fish Resource Valued at $3.5 Billion

For the year ended 30 September 2003, the total asset value of New Zealand’s commercial fish resources was $3.5 billion, according to Statistics New Zealand. The Fish Monetary Stock Account 1996-2003 , released today, is the first official stock valuation of New Zealand’s commercial fish resources managed under the Quota Management System (QMS).

In 2003, hoki was New Zealand’s highest-value fish resource, valued at $815 million (23 percent of the total value), followed by rock lobster, valued at $691 million (20 percent of the total). For the period 1996 to 2003, päua and rock lobster had the most significant increases in value, up 130 percent and 87 percent, respectively.

Orange roughy had the largest decrease in value during 1996 to 2003, dropping from $248 million to $168 million. Most of this decrease resulted from lowering the annual orange roughy catch to conserve physical stocks.

These valuations currently exclude recreational or customary catch, species reared under aquaculture conditions, and species not managed under the QMS due to lack of data.

The value of the commercial fish resource can be compared with the produced net capital stock (such as buildings, transport equipment, plant and machinery), which was valued at $348.5 billion for the whole economy in the year ending March 2003.

The Fish Monetary Stock Account 1996-2003 is part of a series of environmental accounts being developed for natural resources, including energy, forestry, water and minerals. The report and an associated table are available on the Statistics New Zealand website.

Brian Pink
Government Statistician
END

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