The Falklands Islands' Fisheries Department has issued 106 licenses for Illex squid fishing to jiggers and one to a trawler for the season. So far, 73 licenses have been distributed, with the remaining 33 expected to be delivered soon. The fishing is concentrated north of the islands, with initial catch volumes reported as reasonable. Fishing is the primary industry in the Falklands and contributes significantly to the GDP. The Department of Fisheries is also introducing a new Individual Transferable Quotas B system for all species caught in the waters around the islands, effective from January 1, 2023.