The
Development Planning Unit
Government of the British Virgin Islands

NATIONAL INTEGRATED DEVELOPMENT STRATEGY

Fisheries Development in the BVI
Emerging Issues
(continued)

3.0    ECONOMIC PERFORMANCE OF FISHERIES SECTOR

Fisheries presently contribute a relatively small percentage to the Gross Domestic Product (GDP) compared with other sectors such as tourism. Table 3.1 shows the percentage GDP contributions of this sector from 1981 – 1995. Total GDP contributions were generated from revenues from four sources;

• artisanal commercial fishery
• longline pelagic fishery
• recreational fishery
• vessel licensing fees

Between 1991 and 1993, landings at the BVI Fishing Company are estimated to have generated about US $6, 292, 251 Million from artisanal and pelagic longline fishery. Table 3.2 shows the estimated revenue generated from fish landings at the BVI Fishing Company, while Appendix I gives a breakdown of fish landed at the Company from 1991 – 1996. FAO data on total fish landings from 1981 – 1993 shows a steady increase in the quantity of fish landings from 730 – 1460 tonnes (table 3.1).

TABLE: 3.1
GROSS DOMESTIC PRODUCT CONTRIBUTION
FROM FISHERIES/TOTAL LANDINGS1981 – 1994

However, a large quantity of fish caught within BVI waters is landed outside the territory. Alimoso (1993), estimated that fish caught and landed by USVI based recreational fishing boats in 1988 and 1989 were about 60, 000 – 40, 00 kgs. (150,000 - 90, 000 lbs) of high quality pelagic fish at a conservative value of $600, 000 - $360, 000. The loss in revenue is made more glaring by an analysis of earnings from fishing licenses from 1990 – 1995 (table 3.3, Fig. 3.1).

TABLE 3.2
ESTIMATED REVENUE GENERATED FROM THE FISHERIES SECTOR 
1991-1993

TABLE 3.3
REVENUE GENERATED FROM FISHING LICENSES
1990 - 1995 EARNINGS/YEAR ( US DOLLARS)

Total revenue during this period came only to US $73, 890. This can be broken down into commercial fishing licenses – US $5,657, sport fishing licenses – US $51, 228 and pleasure fishing licenses – US $17,005.

Since the fishing and tourist seasons coincide, there is considerable potential to develop the market for the recreational and commercial fishery. In 1997, the Conservation and Fisheries Dept. carried out a marketing survey of fish demand assessments. Results confirmed that the peak period of fish demand was during the tourist season. Purchases ranged between 2 - 15kgs/wk depending on the capacity of the establishment (table 3.4). Pelagic fishes such as Dolphin, Swordfish, Tuna, Wahoo, and Kingfish accounted for 61% of the demand. 86.3% of the purchases were made from local fishermen, the BVI Fishing Company and local retailers ( table 3.5,Fig 3.2 ).

TABLE 3.4
ESTIMATES OF QUANTITY OF FISH PURCHASED BY HOTEL INDUSTRY - 1997

FISH TYPES DEMANDED BY HOTEL INDUSTRY

TABLE 3.5
SOURCES OF PURCHASE OF FISH REQUIREMENTS

FIGURE 3.2
DISTRIBUTION OF RECREATIONAL FISHING BOATS LICENSED FROM 1987-1995

There is a high demand for fish within the BVI that is partly met by a corresponding increase in the quantity of imported seafood. Review of customs data showed that the value of imported fish and fish products increased from US $1.2 - $ 3.3 million between 1992 and 1995. Table 3.6and Fig.3.3 shows an annual breakdown of seafood imports by commodities from 1992 – 1995. Analysis of data showed a decline in imports of fresh, chilled, frozen fish from 50.7% of total imports in 1992, 18.5% in 1993, 33.5% in 1994 to 11.8% in 1995. However, imports of frozen shrimps, lobsters and other crustaceans showed an astronomical rise from 1.6% of total imports in 1992 to 49% in 1995. The high import value is accounted for by the demand for delicacies such as lobsters and conch by the tourist industry in comparison with the low catch rate of this fishery. Alimoso in 1991, estimated a total catch of 59 tonnes for conch and 94 tonnes for lobsters.

From the above, it is obvious that the BVI fishing industry has the potential to expand and make a greater contribution to the GDP. Its performance has been hampered by such constraints as inadequacies of existing policies, legislation’s, lack of capital and inadequate data. The MRAG 1993 report observed that improved revenue could be generated from recreational fisheries by encouraging investments in BVI sports fishing operations and by making changes to existing policy regarding the licensing of foreign sport fishing vessels. Sport fishing tourism was observed to have the potential to become a major contributor to BVI’s foreign exchange earnings far in excess of earnings from licensing of foreign commercial vessels.

The inadequacies in the data collecting system were evident in the review of seafood imports records from 1992 – 1995. The records most often omitted information on the quantity of the commodity imported (weight) and the cost per unit weight. Consistent records were observed in 1992. It should be emphasized that the sustainability of any development project for the fishing industry would be largely determined by an effective data collection / management system, as well as a realistic stock assessment of the fishery resources. This is important to avoid the disastrous collapses that has befallen previously under – exploited fisheries all over the world.

TABLE 3.6
SEAFOOD IMPORTS DATA OF THE BRITISH VIRGIN ISLANDS 1992 - 1995

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