Economic Research & Analysis—Publications
 The Economic Review, November 2001

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2001 Performance
Fish landings are expected to be about 260,000 tonnes in 2001, down 3% from 268,000 tonnes in 2000. This decline is primarily due to lower shrimp and cod landings. However, increases are being recorded in pelagics and flounder. Landed value is projected to decline to less than $500 million from $581 million last year due to both lower landings and weaker prices. This, in turn, is negatively impacting the value of seafood manufacturing shipments which are down by 8.3% to date.

Crab and Shrimp
Overall, fisheries performance has improved in recent years due to diversification from groundfish to shellfish. Crab and shrimp are expected to account for about 50% of landed volume and 75% of landed value in 2001. These two fisheries combined employ, at peak, about 10,000 fishers and 5,000 plant workers.

Crab landings in 2001 were on par with 2000 at approximately 56,000 tonnes. The landed value was about $215 million, almost $50 million lower than 2000. This decline was due to reduced prices stemming from lower demand and increased supply from other areas such as Alaska.

Photo courtesy of: Centre for Sustainable Aquatic Resources, Marine Institute
The Marine Institute’s Centre for Sustainable Aquatic Resources focuses on research in harvesting technology, coastal zone management, ecosystem management and applied research. The Centre’s work with FPI on seabed friendly trawls recently won the US National Fisheries Institute Award for responsible fishing. The Centre is currently working on projects with companies from Ireland and Iceland and the University of New Hampshire.

Employment in fish
harvesting and processing

Source: Statistics Canada Labour Force Survey


Shrimp landings are expected to decline to 66,500 tonnes in 2001 from 77,000 tonnes in 2000. The landed value of shrimp is also expected to decline to about $130 million from $168 million. Like crab, the shrimp fishery has been impacted by weak market conditions and lower prices. This further undermined the market viability of local shrimp which is subject to a 20% tariff on product entering the European market. These factors resulted in the closure of the inshore shrimp fishery from early July to late September and forced a joint industry-government structural review of this fishery. This review is expected to examine and seek ways to improve efficiencies, cost effectiveness, and marketing strategies.

Aquaculture
The aquaculture industry employs about 500 people and is expected to produce a record 5,375 tonnes of product in 2001, with an export value of $24 million. The main species produced include blue mussels, Atlantic salmon, steelhead trout, and cod grow-out. Progress is being made in the development of this sector. Recent private sector investments are focusing on human resources training, and product and market development. Previously, most expenditures were aimed at infrastructure development and working capital.

 

This information was current as of November 9, 2001.

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