Fisheries Economics of the United States, 2020 Report (2024)

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Fisheries Economics of the United States, 2020 Report? ›

For 2020, U.S. commercial and recreational saltwater fishing generated $253 billion in sales impacts, contributed $117 billion to gross domestic product, and supported 1.7 million jobs in the U.S. marine fishing sector and across the broader economy.

Each year NOAA Fisheries compiles key fisheries statistics from the previous year into an annual snapshot documenting fishing's importance to the nation. According to the Fisheries of the United States, 2020 report, U.S. commercial fishermen landed 8.4 billion pounds valued at $4.7 billion in 2020.

The survey show that hunting and fishing contributed $145 billion to the US economy while wildlife watching contributed another $250 billion, 39 million people (15% of the U.S. population 16 years and older) participated in recreational fishing, 14 million people (5.5% of the U.S. population 16 years and older) ...

NOAA Fisheries manages 492 stocks or stock complexes in 45 fishery management plans. At the end of 2022, the overfishing list included 24 stocks, the overfished list included 48 stocks, and two stocks were rebuilt. One of those stocks is considered rebuilt based on changes to its reference points.

Meanwhile, in 2020, recreational fisheries saw an impact of more than $98 billion in sales, according to NOAA Fisheries. Overall, fisheries created 1.7 million jobs, $253 billion in sales, and $117 billion in value-added impacts. According to Statista, more people are participating in fishing for more than just sport.

Alaska led all states in both volume and value of landings, increasing 4 percent in volume and decreasing 2 percent in value. In the Mid-Atlantic, volume increased by 2 percent and value increased by 4 percent. In the Gulf of Mexico region, landings decreased 9 percent and value decreased by 10 percent.

In Alaska, the Aleutian Islands, a series of over 300 rocky islands, stretch over 1,000 miles (1,600 km) from southwest Alaska to Russia. They are home to the largest fishing port in the U.S., Dutch Harbor. The primary target species is pollock, but crabs, salmon, and groundfish are also important.

Ranked: Which Country Produces the Most Fish? By far the country with the biggest fish production is China, which supplied nearly 86 million metric tons of fish to the world in 2021, about 40% of global supply.

China is the ruler of the world's largest fish producer. This Panda country leaves far away from its competitors, including India with a distance of six times more. With a total global fish production of 178.8 million tons, one-third of the world's fish production comes from China.

For 2020, U.S. commercial and recreational saltwater fishing generated $253 billion in sales impacts, contributed $117 billion to gross domestic product, and supported 1.7 million jobs in the U.S. marine fishing sector and across the broader economy.

What is the biggest problem in fisheries? ›

Of all the threats facing the oceans today, overfishing takes the greatest toll on sea life — and people.

The U.S. fish market

Capture production in 2022 resulted in landings revenue of about 5.6 billion U.S. dollars for the seafood industry. In that same year, approximately 8.34 billion pounds of fish were caught in the United States.

Scientists worldwide are rallying for stringent regulations to eliminate harmful fisheries subsidies, which totalled a whopping US$22 billion in 2018. Safeguarding the ocean will strengthen food security and allow more equitable distribution of marine resources.

The total contribution of seafood imports to the U.S. economy exceeds $70 billion in industry output or sales revenues, $37 billion in total value added, and $24 billion in labor income.

$39.5 billion in overall economic output is generated annually. Fishing produces $16.4 billion in state and federal tax revenues.

Global fisheries and aquaculture production totaled 177.8 million tonnes in 2020 according to a report from the Food and Agriculture Organization of the United Nations (FAO).

In 2022, 54.5 million Americans ages six and over went fishing, an increase of 4 percent over 2021 and just under 2020's high of 54.7 million.

But it's estimated that one-fifth of wild-caught fish are caught illegally — harming the economy and environment.

Almost 90 percent of global marine fish stocks are now fully exploited or overfished, and wild capture fisheries struggle without sound regulatory frameworks and strong enforcement. The status of marine biodiversity is closely connected with ocean pollution and acidification.