U.S. Fishing and Seafood Industries Saw Broad Declines Last Summer Due to COVID-19
The U.S. fishing and seafood sector generated more than $200 billion in annual sales and supported 1.7 million jobs in recent years.
It experienced broad declines in 2020 as a result of the COVID-19 public health crisis, according to a new NOAA Fisheries analysis released today. While losses vary by sector, by region and by industry, data and information from this report may help businesses and communities assess losses and inform long-term recovery and resilience strategies.
According to analysts, COVID-19 protective measures instituted in March across the United States and globe contributed to an almost-immediate impact on seafood sector sales. There was a strong start to the year, with a 3 percent increase in commercial fish landings revenue in January and February. However, revenues declined each month from a 19 percent decrease in March to a 45 percent decrease by July. This translates to a 29 percent decrease across those 7 months, as compared to 5-year averages and adjusted for inflation.