Ocean Science Summary: Marine Fisheries and the World Economy
People in coastal countries depend on healthy ﬁsheries for their livelihoods. Gross revenue globally from marine ﬁsheries has been estimated during the last decade at $80 billion to $85 billion annually. This estimate, however, reﬂects only the landed, or market, value of the ﬁsh as they ﬁrst leave the boat, and it underestimates the full economic impact of ﬁsheries. A more accurate accounting of the value of the ﬁshing industry to the global economy would incorporate the indirect effects on related industries that depend on well-managed ﬁsheries.
Andrew Dyck and his co-author, Rashid Sumaila, of the University of British Columbia, estimated the total global economic activity supported by marine ﬁsheries (i.e., non-aquaculture, ocean ﬁsheries). They found that by considering the economic impacts of ﬁsheries on other sectors such as boat manufacturing or canning industries, the total global value is approximately $240 billion annually, as calculated from 2003 data—nearly three times the landed value. The authors concluded that considering only the direct value of ﬁsheries underestimates the true economic impact of marine ﬁsheries worldwide. This Pew Ocean Science Series report is a summary of the scientists' ﬁndings.