Figure 1. Yellowfin tuna (Thunnus albacares). Source: Florida Department of Agriculture and Consumer Service. Last visited: September 14, 2018. https://www.freshfromflorida.com/es/Divisions-Offices/Marketing-and-Development/Consumer-Resources/Buy-Fresh-From-Florida/Seafood-Products/Yellowfin-Tuna.
The long-term annual commercial yellowfin tuna landings in the Gulf of Mexico states are shown in Fig. 2. Since 2011, the Gulf supplied 8% of the total yellowfin tuna domestic landings averaging 1.7 million pounds and valued at $6.4 million annually. In 2016, Louisiana (13.9%) and Florida West Coast (4.5%) were the most significant suppliers from the Gulf of Mexico. The bulk of the Yellowfin tuna was landed in Hawaii (56.8%). California landed 9.8%, and North Carolina added 8.0% to domestic landings. Dockside prices of Yellowfin tuna in the Gulf of Mexico states averaged about $3.87 per pound during the past six years.
Figure 2. Commercial landings and dockside values of yellowfin tuna in the Gulf of Mexico region. The primary vertical axis shows the yearly commercial landings in pounds while the secondary vertical axis indicates the annual commercial dockside values in dollars. Source of raw data: NOAA Fisheries. Last visited: September 14, 2018. http://www.st.nmfs.noaa.gov/.
The economic contribution that the commercial Yellowfin tuna fishing makes region-wide is crucial information in making private investment decisions, formulating government policy, and developing research and extension programs for the industry. The IMPLAN (http://implan.com/) software and the 2013 input-output data for the five Gulf States were used in creating the regional economic model of commercial fishing in the Gulf of Mexico in 2016. The economic analysis used sector 17 or commercial fishing of the 2013 IMPLAN input-output data.
The annual commercial dockside values of Yellowfin tuna in the Gulf of Mexico states in 2016 reached $5.6 million, which was 14.6% less than the average yearly dockside values in the region since 2011. The total output contribution of commercial Yellowfin tuna fishing in 2016 amounted to $10.7 million (Fig. 3). This output of goods and service created by the Yellowfin tuna commercial fishing and related industries sustained 149 jobs and generated labor income amounting to $3.8 million in the Gulf regional economy.
The Yellowfin tuna commercial fishing industry generates annual tax revenues for the Gulf States and the U.S. federal government. More than $657,000 was projected to have been paid by households and businesses in 2016 to the federal government as social insurance tax, tax on production and imports, corporate profit tax, and personal income tax. The Gulf States were anticipated to have collected taxes from households and businesses in 2016 amounting to more than $320,000 as social insurance tax, tax on production and imports, corporate profits tax, and personal tax.
Figure 3. The total economic contribution includes direct, indirect and induced effects estimated by using 2016 annual landing values and 2013 IMPLAN data. The local purchases percentage was set at 100%. The number of jobs is rounded off.
For more information, go to:
Posadas, Benedict C., and Amanda E. Jefferson. Commercial yellowfin tuna fishing in the Gulf of Mexico states. Mississippi MarketMaker Newsletter, Vol. 8, No. 14, September 24, 2018. http://extension.msstate.edu/newsletters/mississippi-marketmaker.