The value of Newfoundland and Labrador’s total fish and seafood production exceeded $1-billion for the third year in a row in 2017 but is down 10 per cent from 2016.
The production value for last year was almost $1.3 billion.
The provincial government has released its 2017 Seafood Industry Year in Review document.
It attributes the decline to a lower market value in both the commercial wild fishery and the aquaculture sector.
Newfoundland and Labrador will once again be promoting the province’s fishing industry at the largest seafood trade event in North America.
Fisheries and Land Resources Gerry Byrne will host a reception for industry at the Seafood Expo North America 2018 in Boston on Saturday, March 10.
The following day he will highlight year-in-review document and give an overview of the Newfoundland and Labrador’s wild and farmed fisheries.
“Our presence at the Seafood Expo North America supports efforts to showcase our success to markets eager to hear more about our world-class products, and the 2017 Seafood Industry Year in Review tells an important story; that of a province strategically positioning itself for growth as a global player in a challenging and competitive sector,” Byrne said in a news release Friday, March 9.
The 2017 Seafood Industry Year in Review can be read at www.fishaq.gov.nl.ca/publications/pdf/SYIR_2017.pdf.