Commercial fishing in New South Wales is a diverse and valuable industry that draws on a natural resource to generate livelihoods, food and purpose for those involved directly and indirectly. The New South Wales Department of Primary Industries (DPI) is seeking to better understand these economic and social values of the industry and to establish a monitoring program to track how they change over time.
NSW DPI has engaged BDO EconSearch to produce an annual time series of economic and social indicators for NSW commercial fisheries. A report will be produced for each fishery for three financial years (Financial Years 2019/20, 2020/21 and 2021/22).
BDO EconSearch is an independent group of researchers with experience monitoring economic and social indicators for fisheries in South Australia, Queensland and other states. Economic and social indicators provide valuable information for the fishing industry, fisheries managers and other stakeholders. Economic indicators can help to understand the profitability of the industry and how the state’s resources are being used to deliver economic benefits to our regional communities and our state as a whole.
For a quick overview of the benefits economic research can provide for commercial fisheries you are encouraged to watch the short video below.
The objectives of the monitoring program are to:
The monitoring program includes all activities associated with NSW commercial fisheries. This includes fishing activity, associated business and administration operations and fisheries management.
The economic contribution indicators will quantify the effects that NSW commercial fishing activity has on the broader economy though processing, capital expenditures of fishing businesses and flow-on effects elsewhere.
Once complete, the reports will be made available on the NSW DPI website.