The development of the international shrimp (Pandalus borealis) fishery in NAFO Division 3M is described. Various indices show that even the stock is in high levels in 2006 and 2007 the lack of good recruitments in the last years and progressive disappearance of the strong year classes 2001 and 2002 will lead to the stock decline. The effort in the last years was low due to high cost of oil and low marketing prize of shrimp. Nominal catch was 17600 tons in 2007 as compared to 21431 tons in 2006. The catch in 2008 was only 7805 tons to 1 october. Noting the lack of reports on catch this figure might increase considerably. The results from the ageing which is based on biological sampling showed a great number of five years olds per hour in 2007 proving the 2002 year-class to be very strong. However in 2008 this year class was barely represented. The female biomass from EU survey was variable though without trends at a relative high level from 1998 to 2007 but in 2008 the estimated biomass decreased to levels prior to 1998. This pessimistic picture is not agreed with the observed trend in the female standardized CPUE that is growing since 1998. Indices of recruitment from the commercial fishery (age 2 in numbers) are plotted against CPUE of 3+ two and three years later showing a significative relationship between them. The recruitment indices of both commercial fishery and EU survey show a very strong 2002 year-class followed by weak year-class since then.