Economic Indicators Developed for Major Hawaiian Island Fisheries

As part of a national NMFS effort to develop economic indicators to track trends in the economic performance of fisheries, PIFSC's Economics Group compiled standardized data on over 10 economic variables documenting performance of three major Hawaii fisheries over a 9-year span. The goal of the effort is to develop a set of standard performance indicators that measure the economic performance of fisheries over time. This dataset will enable evaluation of changes in economic performance in response to changes in fishery management and ecological characteristics.

The Economics Group compiled performance indicator data for three fisheries: Hawaii longline, American Samoa longline, and main Hawaiian Islands (MHI) commercial Deep-7 bottomfish. These fisheries were chosen because they have adequate economic data and because they are among the fisheries undergoing major changes in management, e.g., establishment of catch quotas, Annual Catch Limits (ACLs) or Total Allowable Catch levels (TACs). The indicators include: Aggregate Landings; Number of Permits, Trips, and Active Vessels; Season Length; Days at Sea; Aggregate Revenue; and ACL or Quota/TAC. The time series of the period covers 2002 to 2011.

Below are sample data outputs that can be generated from the dataset. The first chart summarizes trends in ex-vessel fish price, derived from aggregate revenues and aggregate landings, in nominal and real terms for all the pelagic species landed by the Hawaii longline fishery. The real (inflation-adjusted) price was calculated by using the consumer price index (CPI) for Honolulu.

The real ex-vessel price of all pelagic species landed was relatively stable over the 2002 to 2011 period, and the nominal price shows an increasing trend. Real prices were in the range of $3.00/lb to $3.20/lb except for 2009, when the real price of all fish landed by the Hawaii longline fleet dropped to $2.90/lb.

The second chart (below) shows similar information for all bottomfish landed by the MHI commercial bottomfish fishery. The nominal price of all bottomfish combined increased about $1.00, from $4.29/lb to $5.32/lb, during the period of 2002 to 2011. However, the inflation-adjusted price of bottomfish landed in the MHI bottomfish fishery declined overall. The average real prices of bottomfish species declined from $5.80/lb in 2002 to $5.32/lb in 2011. Real prices peaked in 2004 at more than $6.00/lb and then declined overall until reaching their lowest level of less than $5.00/lb in 2008. Since 2008, the real price has trended upward; it reached $5.32/lb in 2011 but still remains below the level in 2007, when a TAC was first implemented.