The rock lobster and abalone fisheries account for over 90% of the value of Tasmanian commercial fisheries. However, in recent years there has been increasing interest in relatively new fisheries, such as banded morwong and wrasse that are sold on the premium live-fish market.
There are some complicated jurisdictional distinctions in the management of wild fisheries. Tasmania manages certain fisheries outside the normal 3-nautical-mile State waters boundary. Most significantly, Tasmania manages rock lobster, giant crab and abalone out to the 200 nautical mile limit of the Australian exclusive economic zone, or to the Tasmanian-Victorian border at 39°12'.
The Commonwealth manages others, particularly the mobile pelagic species such as the tunas, and fish such as blue eye trevalla, pink ling and school and gummy sharks. In 2001, jurisdiction of the Tasmanian shark fishery was transferred to the Commonwealth, with the Australian Fisheries Management Authority taking responsibility for managing the southern shark fishery off South Australian, Victorian and Tasmanian coastal waters.