New England Fishery Revenue Edges Up
by Laurie Schreiber
SILVER SPRING, Md.—The National Marine Fisheries Service (NMFS) in May released its newest report on the status of the nation’s fisheries, “Fisheries Economics of the U.S.—2014.”
It shows that landings revenue in New England totaled $1.2 billion in 2014. This was a 24 percent increase from 2005 levels, but a 5 percent increase in real terms after adjusting for inflation.
Revenue was a 3 percent increase from 2013.
Landings revenue was highest in Maine, at $549 million, followed by Massachusetts, at $525 million.
Nationwide, commercial fishing, the seafood industry and recreational saltwater fishing generated a combined $214 billion in sales impacts, contributed $100 billion to gross domestic product, and supported nearly 1.83 million jobs.
Key findings for New England included:
• Lobster had the highest landings revenues, averaging $387 million from 2005 to 2014.
• Atlantic herring contributed the most to landings in the region, averaging 190 million pounds from 2005 to 2014.
• Scallop had the highest average annual ex-vessel price per pound from 2005 to 2014, of $8.67.
• Herring had the lowest average annual ex-vessel price per pound from 2005 to 2014, of 19 cents.