By world standards Australia 's oceans produce only small quantities of seafood. To compensate for low production Australian fisheries are centred on species that are high value. Australian seafood industry production rose by 4.9% in 2002-2003 to 249,000 tonnes.

Seafood is Australia 's fourth most valuable food-based primary industry after beef, wheat and dairy. It is also an important contributor to the Australian economy with a value of $2.3billion in 2002-03. (ABARE 2004)

Western Australia , South Australia , the Commonwealth, Tasmania and Queensland are the largest producers in terms of the gross value of fish. Victoria 's fisheries are also based on high value species but on a smaller scale. With the smallest length of coastline, Victoria has the smallest fishing industry.

Victorian commercial fisheries production is about 5,576 tonnes per year, worth about $87 million.

Aquaculture is the farming of fish and other aquatic animals and plants in marine and freshwater environments and contributes a further $21 million to the Victorian economy.

Australia has an international reputation as a reliable and consistent supplier of high quality and healthy seafood. Most of the production is exported overseas to countries such as Japan (which is Australia 's main export for edible products), Hong Kong and the United States . The export value to these countries is as follows (rounded to the nearest million).

Japan - $628 million

Hong Kong - $356 million

Unites States - $152 million.

Seafood is an important export earner for Victoria . Abalone, Rock Lobster and scallop are the principal edible fisheries exports.

The value of the total seafood exports dropped by 12% from previous year to $1.84 billion. Contributing factors include a decrease in unit values of different commodities and the outbreak of SARS (Severe Acute Respiratory Syndrome) in Asia .

With seafood being consumed by 90% of the Australian population, commercial fishermen are under greater pressure to meet the demand. Employment in the seafood industry has risen with many families directly employed in wild catch, aquaculture, fish wholesaling and processing.