Tab C5 - Overview of the Marine Economy

On this page:

• Context
• The marine economy is comprised of six major industrial sectors
• Canada’s Fish and Seafood Sector
• Roles and responsibilities
• Policy and program levers
• Working with federal partners
• Looking ahead
• Annex A: Federal partners

Context

• According to the Organization for Economic Cooperation and Development (OECD), the global marine economy generated an estimated $2.6T in global gross domestic product (GDP) in 2020, with projections reaching $4T trillion by 2030.
• Global forces are transforming the ocean economy - climate change, environmental pressures, energy transition, technological advances, world trade and geopolitical dynamics are affecting economic activities and ocean health.
• Canada’s diverse ocean assets make it well positioned to harness this transformation and develop an ocean economy where technology, innovation and ecosystem health drive renewed prosperity and opportunity for Canadians.

The marine economy is comprised of six major industrial sectors

Fish and Seafood Sector

• Commercial fishing
• Aquaculture
• Seafood processing

Marine Transportation

• Marine transportation
• Support services

Manufacturing and Construction

• Port and harbours
• Ship and boat building

Public Sector

• Regulatory oversight
• Research spending
• Public institution and non-profit sector research activities

Offshore Oil and Gas Extraction

Coastal Tourism

In 2023, Canada’s marine economy collectively generated $51B in annual GDP, supported almost 446,000 jobs and accounted for ~2% of the total Canadian economy.

Canada’s Fish and Seafood Sector

Canada’s fish and seafood sector is a vital contributor to Canada’s marine economy. In 2023, it provided $4.6B in direct GDP contribution.

• Commercial fishing is by far the largest component of the sector – $2.9B in direct GDP contribution in 2023.
• Over 70% of fish harvesting and seafood processing GDP is concentrated in the Atlantic region, primarily in Nova Scotia (NS) and NL.
• Fish and seafood provides a large percentage of marine-related employment in PEI (41%), NB (38%), NL (24%) and NS (21%).
• Over 70% of aquaculture production is found in BC – BC farmed salmon makes up 88% of provincial aquaculture value, and just over half of all aquaculture value in Canada.

A sustainable fish and seafood sector provides coastal communities with economic stability, preserving cultures and deep-rooted traditions.

Roles and responsibilities

As Minister of Fisheries, Oceans and the Canadian Coast Guard, your responsibilities for the marine economy are centered around managing fisheries and aquaculture, ensuring safe and efficient marine transportation, and protecting the marine environment.

• Fisheries and Oceans Canada (DFO) has the lead federal role for safeguarding Canada’s waters and managing its fisheries and ocean resources.
• The Canadian Coast Guard (CCG), a Special Operating Agency within DFO, is responsible for services and programs that contribute to the safety, security, and accessibility of Canada’s waterways.

Policy and program levers

Regulatory

• Regulating fisheries sustainability, while supporting a stable and viable fishing industry.
• Supporting the conditions for sustainable aquaculture, including regulatory responsibilities, working with federal partners and other jurisdictions where applicable.
• Working with other federal regulators to promote linkages and harmonization among various activities to enable sustainable growth in the marine economy (e.g., permitting for port infrastructure, marine renewables, other major projects).

Programs and research

• Supporting innovation, resilience, and sustainable growth in the fish and seafood sector.
• Supporting conservation and fish habitat restoration efforts.
• Supporting the coordination of ocean science and technology in Canada, to increase collective knowledge, align efforts, and strengthen collaboration.

Infrastructure

• Managing a network of Small Craft Harbours.
• Overseeing the operations of the CCG Fleet.
• Providing safety and navigation-related services for vessels, boaters and fishers.

Working with federal partners

As Minister, you also play a supporting role alongside other federal ministers to advance whole-of-government efforts in the marine economy. Recent initiatives include:

• Supporting ocean innovation and developing domestic capabilities, such as Canada’s Ocean Supercluster, aiming to strengthen and accelerating growth.
• Supporting ocean protection, improving the marine safety system, and enabling low-impact shipping coordination through initiatives like the Ocean Protection Plan.
• Supporting Canada’s National Shipbuilding Strategy, to renew the Government of Canada’s fleets and help grow globally competitive firms in Canadian areas of strength, such as hull design and coatings; ocean technology, mission and platform systems, and sensors and robotics.

Looking ahead

• Championing Canada’s fish and seafood sector as an essential contributor to the prosperity of Canada’s coastal communities.
• Advancing opportunities to harness the growth potential in existing and new ocean sectors in collaboration with partners.
• Leveraging Integrated Oceans Management (IOM) which aims to plan and coordinate decisions across sectors and governments for the sustainable use, development, and protection of marine and coastal areas.

Annex A: Federal partners

Canada’s marine economy is supported by multiple federal departments and agencies, reflecting the interconnected nature of the marine environment.

• Regional Development Agencies (RDAs) directly support small and medium-sized enterprises (SMEs) and organizations, investing in innovation, business growth initiatives, and infrastructure.
• Innovation, Science and Economic Development Canada (ISED) provides a range of funding programs to support growth and innovation, as well as access new markets and expand export activities.
• Canadian Heritage (PCH) provides programs aimed at preserving and promoting the culture heritage of Canada’s coastal communities.
• Agriculture and Agri-Food Canada (AAFC) provides support to the agri-food sector (including the fish and seafood sector) to diversify exports to international markets and seize domestic market opportunities.
• Employment and Social Development Canada (ESDC) promotes skills development and training.
• National Defence (DND) and procurement for the Royal Canadian Navy plays a significant role in supporting the growth of the domestic shipbuilding industry.
• Transport Canada (TC) ensures the transportation system across Canada is working effectively, including regulatory oversight for vessel registry and safety.
• Environment and Climate Change Canada (ECCC) protects and conserves our natural heritage, minimizes threats to the environment from pollution, and promotes clean growth and a sustainable environment for present and future generations.