August 9, 2007

Australia confirms multi-million dollar earnings in Queensland's fishery exports

The government of Australia has confirmed the million dollar earnings of Queensland's 25 export fisheries based on 2006 Annual Status Report.

Primary Industries and Fisheries Minister Tim Mulherin said Queensland fisheries resources earned approximately US$190 million in export revenue each year.

Mulherin said in 2005 approximately 23,000 tonnes of fin fish, crabs and prawns were caught by commercial fishers in Queensland-managed fisheries, with a gross value of approximately US$210 million.

The drop in country's estimated gross value product (GVP) has been attributed to a decline in returns due to some factors such as lower prices in the face of overseas competition, the high price of fuel and labour and the effect of the strong Australian dollar on export-quality products.

To maintain export approved status Queensland fisheries management arrangements are assessed against stringent sustainability guidelines established by the Commonwealth Government.