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Economics of Aquaculture United States

by imports. The value of imported fisheries products more than doubled during the 1980's, to $9.6 billion in 1989. This resulted in a significant trade deficit - $4.9 billion for all fisheries products and $3.1 billion for edible fish and shellfish in 1989. Imported fisheries products contribute more to the United States' trade imbalance than any other food or agricultural commodity. After petroleum products, imported seafood contributes more to the United States trade deficit than any other natural resources product. (Joint Subcommittee on Aquaculture, 1992) Despite the trade imbalance, some aquacultured fish products are exported. There has been significant growth in U.S. exports of ornamental fish with exports of $17 million in 1993 and over $10 million in the first half of 1994. (US Department of Agriculture, 1994) Northeast Region The Northeast Region, as covered by the Northeastern Regional Aquaculture Center (NRAC), includes the states of Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, Connecticut, New York, New Jersey, Pennsylvania, Delaware, Maryland, and West Virginia. NRAC estimates the total 1992 farm gate value of aquacultured products in the northeastern United States to be $146,409,000. Cultured shellfish comprises approximately 53 percent of the 1992 regional farm gate value, with oyster production being the single largest segment of the regional industry accounting for roughly 42 percent of the total. Net pen culture of Atlantic salmon and steelhead trout was the second largest category contributing 29 percent to the regional value. (Northeastern Regional Aquaculture Center, 1993) The state of Connecticut is the largest aquaculture producing state in the region with estimated farm gate sales of $61.7 million, primarily from oyster sales. Maine is the second largest aquaculture producing state in the region with farm gate sales of $42.9 million, largely from pen-reared salmonid. Pennsylvania is the third larg...

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