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Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

November 26, 2024
AQUACULTURE, 2023

Canada's aquaculture industry produced 145,985 tonnes of finfish and shellfish products in 2023 (including restocking), with a value of $1.26 billion. 

British Columbia is Canada's largest aqualcuture producing province, accounting for 41.8% of production volume and 44.3% of production value in 2023. 

Nova Scotia's aquaculture output of 12,084 tonnes was 8.3% of national output while the province's aquaculture production value of $120.5 million represented 9.6% of the national total.   

National aquaculture output tonnage decreased by 12.9% from 2022 to 2023.  New Brunswick reported the largest percentage gain in aquaculture production tonnage at +111.9% while British Columbia reported the largest decline at -37.8%. 

Nova Scotia's aquaculture output value fell by 23.7% to $120.5 million from 2022 to 2023.  National aquaculture output value was down (-6.3%) through there were notable gains in both Newfoundland and Labrador and New Brunswick.

In 2023, the average unit value of Nova Scotia's aquaculture products was above the national average at $9,971 per tonne - the third highest value among provinces.  This was down 3.8% from value per tonne in 2022. 

National aquaculture value per tonne was $8,629 (+7.6% from 2022) with the lowest value in Prince Edward Island.  Differences across provinces reflects in part differences in the relative amounts of finfish and shellfish produced in each province, with finfish generally having higher unit values.

Nova Scotia's aquaculture output volume has been on an up and down trend for the last four years.    

Nova Scotia's aquaculture production values declined in 2023 after a sizeable spike in 2022.

Value Added

Real GDP in Nova Scotia's aquaculture industry fell by 22.4% in 2023, one of four provinces to report a decline (along with British Columbia, Prince Edward Island and Ontario). 

Aquaculture real GDP was up in: Newfoundland and Labrador, New Brunswick, Québec, Saskatchewan and Alberta. There was little change to aquaculture real GDP in Manitoba.  British Columbia, New Brunswick and Nova Scotia generate the largest amount of real GDP from aquaculture.  

Between 2007 and 2023, Nova Scotia's aquaculture real GDP has grown at an average annual pace of 2.7% per year.   

Source: Statistics Canada.  Table  32-10-0107-01   Aquaculture, production and valueTable  36-10-0402-01   Gross domestic product (GDP) at basic prices, by industry, provinces and territories (x 1,000,000)



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