The industrial tuna fishing activity in the western Indian Ocean: Impact on the economy of Seychelles, report for the year 2004

Fishing has traditionally played an important role in the socio-economic development of the country, providing an important source of exports and foreign exchange earnings, job creation, government revenue and most of all an important source of animal protein for the population. With the emergence of Port Victoria as a major tuna landing and transshipment center in the region coupled with the country's venture in tuna canning activity, the importance of the fisheries sector has grown even further to establish itself as a major economic activity, an important source of foreign exchange earnings and contributor to the country's wealth generation. The Industrial Tuna Fishing Activity in Seychelles has since its outset been an important source of foreign exchange earnings for the country's economy, representing about 29% of total gross inflows of foreign currency generated by the fisheries sector and associated activities in 2004. This contribution is not only in terms of earnings from the issue of licenses to foreign fishing vessels to fish in our Economic Exclusive Zone, but more importantly in terms of expenditure on local purchases of goods and services effected by these foreign vessels and foreign fishing companies based in Port Victoria. With Port Victoria being the principal base for these foreign fishing vessels implies that a number of job opportunities are created for Seychellois nationals as well as creating other spill-over effects in the economy. In 2004 an average of 102 stevedores were employed per day for a total of 337 days, resulting in a cumulative 34,400 man days of labour during the year. Moreover, tuna landed in Port Victoria is also a main source of raw material for the local canning factory, which in turns generates further employment for Seychellois nationals and export earnings. The year 2004 saw a record amount of inflow in earnings. The generated income recorded was 26% higher than the previous year. The level of activity, which relates to the number of calls, number of days spent in port and the volume of landings and transshipment handled in Port Victoria, recorded an overall decrease in 2004. This was mainly due the fact that the level of fishing activity was not as impressive as the previous year.

Bibliographic Details

Main Authors:	Marguerite, M.A., Baker, C.
Format:	Report biblioteca
Language:	English
Published:	Seychelles Fishing Authority 2005
Subjects:	Economics,
Online Access:	http://hdl.handle.net/1834/5133
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