The True Cost of Illicit Fisheries

4144311116?profile=RESIZE_710xA research paper has just been published outlining the true cost of illegal, unreported and unregulated fisheries around the world on 143 countries. The paper estimates that the annual magnitude of the unregulated, illicit trade in marine fish catch globally is between 8 and 14 million metric tons,   suggesting gross revenues of US$9 - 17 billion associated with these catches. The estimated loss in annual economic impact due to the diversion of fish from the legitimate trade system is estimated at US$26 - 50 billion, while losses to countries’ tax revenues are between US$2 - 4 billion. This trade is having a disproportionat impact on the nutritional status and economic wellbeing of countries in Africa, Asia and South America in particular. This trade is mostly carried out by a large factory ships, which take the fish overseas without unloading or processing in the fishing ground host countries, thereby depriving local economies of tax, income, and jobs, and leading to depletion of the regions fish stocks.

Read the article here or the full research paper

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