The seafood economy
Millions of people work in the seafood industry, contributing to local, regional and global trade on a massive scale and maintaining livelihoods, earnings and employment. It's not just about fishing. Seafood-related jobs include processing, packing, transport, retail and restaurants. Through these diverse businesses, the seafood economy generates financial security for individuals and a valuable source of GDP.
The value of the global seafood industry
- The export value of world trade in fish was US$63 billion in 2003, and is more than the combined value of net exports of rice, coffee, sugar and tea
Source: United Nations Food and Agriculture Organization - About 200 million livelihoods depend directly or indirectly on the fishing industry
Source: United Nations Environment Program - Half of the seafood traded worldwide comes from developing countries
Source: United Nations Environment Program - Fish exports are a valuable source of foreign exchange for many developing countries. Globally, developing countries are net exporters of fishery products.
Source: United Nations Food and Agriculture Organization
Rising demand
Consumer demand for fish continues to climb, especially in affluent nations, which in 2004 imported 33 million tonnes of fish, in value terms 81% of all fish imports that year, and worth over US$61 billion (Environmental News Service).
Global consumption of seafood increased by 21% between 1992 and 2002. But levels of fish catches in the wild have remained roughly stable since the mid-1990s, close to 90-93 million tonnes annually. The UN Food and Agriculture Organization says there is little chance of any significant increase beyond these levels.
And it’s not just about seafood, fish is an ingredient in pet food, health supplements, fishmeal and many non-food products manufactured on a global scale.
The UN predicts another 2 billion people will join the world’s population within 20 years. Add to this the surge in consumption that is expected as the world’s emerging economies develop and expand, and it is clear that pressure on seafood resources will increase.
Sustainable fisheries set for success
With pressure on seafood resources set to increase further, fisheries that are poorly managed may quickly collapse. We will need fisheries that are well-managed and sustainable, especially given the uncertainties and implications of global climate change.
The MSC is helping to transform the seafood market onto a sustainable basis, where well managed fisheries are recognised and rewarded, and marine conservation is at the heart of good fisheries management. You can support sustainable fishing by looking for the MSC ecolabel on certified sustainable seafood. Find out where to buy MSC-labelled sustainable seafood.
