New Zealand’s seafood industry sustainably harvests approximately 750 000 metric tonnes (mt) greenweight (live weight) from wild fisheries and aquaculture each year. The value of this harvest ranges from NZD 1.2-1.5 billion per annum, of which the aquaculture industry contributes about NZD 200 million per annum. Seafood exports consistently rank as New Zealand’s fourth or fifth largest export earner. Domestic seafood sales are approximately NZD 150 million annually.

The Ministry of Fisheries is responsible for managing New Zealand’s fisheries. It focuses on maximising the value New Zealanders obtain from the sustainable use of fisheries and protection of the aquatic environment. This goal sets the policy direction for fisheries management in New Zealand. The quota management system (QMS) provides for the management of commercial fisheries on the basis of Individual Transferable Quotas (ITQ). Restrictions are placed on the amount of quota that can be held by any one person, including their associates. These range from 10% for some species to 45% for others.