Coromandel Aquaculture Industry in Primary Growth


Coromandel Aquaculture Industry in Primary Growth

A recent economic impact report quantified what we already knew; aquaculture is a major employer and provides important economic benefit to the Coromandel and the wider region.

New Zealand aquaculture exports alone generated NZ$309 million in earnings during the year ending September 2011 (approximately 20.2% of total seafood export revenues).

The industry has a target goal of reaching $1 billion in sales by 2025.

Here's a snap shot of some of the Coromandel and regional numbers:
  • Total production: 31,000 tonnes of mussels and 400 tonnes of oysters
  • Total output of the industry within the region: $72 million (total value of sales).
  • Contribution to the regional domestic product (mussels and oysters): $31 million ($15 million from farming, $16 million from processing)
  • Contribution to the nation’s GDP: $77 million ($24 from farming, $53 from processing)
  • Direct regional employment: 297 (121 in farming, 176 in processing)
  • Total employment in the region including indirect and induced jobs: 432 (158 from farming, 274 from processing).
  • National direct employment: 551
  • National total employment: 1193
  • Contribution to regional household income (wages) is $10.6 million (indirect and induced household income is another $6 million).
  • Contribution to household income nationally is $18.9 million (indirect and induced household income is another $23 million).
"Global consumer demand for seafood will almost double from 45 to 85 million tonnes by 2015"

By 2025 the report forecasts that the mussel and oyster industry will contribute:

  • More than $60M in GDP to the regional economy
  • An extra 354 regional jobs
  • A finfish industry will generate over $34M per annum in GDP ($56 in turnover) within the region.
  • Nationally, the Coromandel finfish industry would bring in $45 million in GDP, and create 473 new jobs.

Source: http://www.tcdc.govt.nz/business/Aquaculture/Economic-impact-of-aquaculture/.

Image source:  Teara.govt.nz

Posted: Thu 27 Feb 2014

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