Safeguarding the worlds seventh largest economy

Abstract

They might not feature at the G7 or similar high-profile economic platforms but the oceans have globally assumed considerable economic importance. In fact, a marine ecosystem valuation conducted by the World Wide Fund (WWF) estimates the overall value of key ocean assets at US $24 trillion, propelling the oceans to seventh place among global economies on the basis of gross marine product. Global fish production was estimated at 171 million tons in 2016, supplying around 20.3 kg/capita per year and 17 per cent of global animal proteins and essential micronutrients. Around 59.6 million people were employed in fisheries and aquaculture in 2016, and some 200 million direct and indirect employment opportunities occur along the fish and seafood value chain.