The total factor productivity indexes of five key Commonwealth fisheries have been developed using the Fisher index and ABARES survey data. Where fish stock biomass information is available, these indexes are also adjusted for changes in fish stocks. In trend terms, productivity increased over the last decade in most Commonwealth fisheries analysed. These increases reflect a mix of government induced structural adjustments and management changes as well as autonomous adjustment responses to market conditions. Changes in productivity can provide information regarding the response of fishing fleets to policy settings and how changes in fish stocks, technology and fleet structure have influenced a fishery’s economic performance. These results are part of ongoing work to develop a suite of economic indicators to assess the economic performance of key Commonwealth fisheries.