Australia’s exclusive economic zone (EEZ) is the third-largest in the world. It covers approximately 10.3 million square kilometres; one-and-a-third times the area of Australia’s land mass. Australia’s commercial catch ranks approximately 60th in the world, representing 0.2% of world tonnage – although it is 2% by value. The volume and value of production in Australian fisheries have been affected recently by unfavourable movements in a number of important variables (including rising fuel prices and the appreciation of the Australian dollar).

In 2004-05, Australia’s total exports of fisheries products were valued at AUD 1.54 billion with Japan and Hong Kong the main export markets for Australian edible fisheries exports. Australia imported AUD 1.17 billion of fisheries products in 2004-05; 82% (AUD 959 million) of the gross value of imports were edible fisheries products consisting of finfish, crustaceans and molluscs and in particular prawns, frozen finfish fillets and canned fish.