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Value added

Aquaculture in Canada emerged in the 1970's in response to increasing global demand for fish and seafood. Over the last 50 years, the sector has grown into an important commercial activity for Canada. In this section you will find annual estimates produced by Statistics Canada on the value added of the aquaculture industry, for the period 1997-2024. The information is grouped into four main categories: outputs, product inputs, gross value added, and other primary (labour) inputs.

Between 2010 and 2024, national gross output increased by 47% from just over $1.0 billion to over $1.5 billion. However, total input costs also increased from $600 million to just under $1.3 billion, more than doubling over the same period. The more rapid growth in input costs relative to total output has reduced industry profitability, resulting in a decline in gross value added from $423 million in 2010 to $236 million in 2024.

Gross output increased by 2% from 2023 to 2024, with input costs and revenues increasing by 7% and 11%, respectively, over the same period.

The COVID-19 pandemic had a measurable effect on gross output from aquaculture in 2020. Gross output decreased by 16% from $1.3 billion to $1.1 billion from 2019-2020, recovering to pre-pandemic levels in the following years, reaching over $1.5 billion in 2024.

British Columbia accounts for the largest share of Canadian aquaculture output. At $613 million, the province accounted for 43% of national sales in 2024. Moreover, this is the second time since at least 1997 that British Columbia accounted for less than half of national sales of aquaculture products. The value added from aquaculture in British Columbia, factoring all product expenses, also decreased by 79%, totaling under $22 million in 2024, compared to $104 million in 2023 and $201 million in 2022.

On the Atlantic coast, New Brunswick accounted for the largest share of sales at $320 million (23% of the national total), followed by Nova Scotia at $116 million (8% of the national total). Aquaculture in New Brunswick produced nearly $122 million in gross value in 2024 compared to $99 million in 2023, and a net loss of nearly $36 million in 2022. Nova Scotia has observed significant fluctuations in value added since 2010 (+14% from 2010 to 2024), decreasing substantially from $55 million to $15 million from 2022 to 2023, then increasing to $20 million in 2024.

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