New Zealand's exclusive economic zone (EEZ) covers 4.4 million square kilometres which is the 6th largest in the world. Approximately 16,000 marine species have been identified in this area and 130 species are commercially fished. The Quota Management System* (QMS) limits the total quantity of fish taken by commercial fishers. The total quantity of commercial fish that can be taken for each QMS fishery is known as the Total Allowable Commercial Catch (TACC). Total seafood exports in 2007 was 321,502 tonnes with an export value of NZ$1.3 billion.