October 17, 2024 — The health of Alaska’s seafood industry is not, at this moment, particularly good. A new economic snapshot reported by the National Oceanic and Atmospheric Administration Fisheries agency (NOAA Fisheries) details a downturn over the past two years. It estimates the Alaska seafood industry suffered a $1.8 billion loss between 2022 and 2023, and the industry saw a 50 percent decline in profitability between 2021 and 2023.
“The Alaska seafood industry is a major contributor to the US seafood sector,” says Robert Foy, director of NOAA’s Alaska Fisheries Science Center. “The social and economic ramifications of Alaska’s losses have reverberated down the West Coast and across the country.”
Higher Costs, Changing Habits, Greater Competition, and Climate Change
Industry changes have resulted in more than 38,000 job losses nationwide and a $4.3 billion loss in total US output, representing the total dollar value of all goods and services produced. The most affected states—Alaska, Washington, Oregon, and California—saw a combined loss of $191 million in state and local tax revenues.
Seafood is the top private sector employer in Alaska. For many Alaska coastal communities, fisheries are the primary contributor to their local economy, helping to shape their social structures and cultural identities.