According to the Australian Bureau of Agricultural and Resource Economics, the gross value of production of Fisheries in Australia for 2008 was worth $2.19 billion. However, since 1998-99 the total volume of fisheries production has increased by 1% but the return on that produce has fallen by some 22%. This decline can be attributed to a reduction in the value of key species in international markets primarily in response to the increasingly strong Australian dollar.
"Historically, Australia has been a net importer of fisheries products in volume terms but a net exporter in value terms. This disparity reflects the composition of Australian fisheries exports compared to imports. Australian fisheries exports are dominated by high value species such as rock lobster, tuna and abalone, while imports largely consist of lower value products such as frozen fish fillets, canned fish and frozen prawns." (ABARE 2008)
