Less is more for fishing industry

Fishing less, and better, could

generate an additional US$83

billion a year for the fisheries

sector, according to a new

World Bank report.

The benefits would be felt

by the logistics and shipping

sectors, which have seen a

decline in fishing-related

business.

About 90% of marine

fisheries monitored by

the Food and Agriculture

Organisation (FAO) are fully

fished or overfished, up from

about 75% in 2005.

Reducing global fishing

would allow fish stocks to

recover from overexploitation

and lead to increases in the

weight, value and price of

fish landed, boosting the

profitability of the fisheries

sector from an estimated

US$3bn a year to $86bn.

It would also lead to more

fish being caught and landed,

because stocks would have

recovered.