The Value of Namibia's Commercial Fisheries

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The Value of Namibia's Commercial Fisheries


Namibia has one of the world’s richest fisheries and its post-Independence fisheries policy stands out as a model in many respects. Struggling to recover from severe overexploitation prior to 1990, Namibia has achieved a remarkable transformation of the industry in a relatively short time. Fish stocks have mostly stabilised, and a strong domestic fishing industry has developed that not only operates without subsidies, but actually pays part of the resource rent to government. This last point is quite striking because of the global trend for massive government subsidies for the fishing industry in most countries. Proper management of fishery assets is very important for the sustainability of Namibia’s economy. The environmental and natural resource accounts provide a tool to assess the economic value of stocks, economic losses incurred through over-exploitation and depletion of stocks, and the potential value of the stock under different management regimes. Physical and monetary accounts for Namibia’s three major commercial fisheries—pilchard, hake, and horse mackerel—are constructed and discussed here using the United Nation’s System for Integrated Environmental and Economic Accounts.


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Details
Created:Thursday, October 30, 2008
Created By: Focal Person EEA
Last Modified:Thursday, October 30, 2008
Last Modified By: Focal Person EEA
Type: INFO
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