Fishery and Aquaculture Country Profile for Bahamas
- aquatic species caught by country or area, by species items, by
FAO major fishing areas, and year, for all commercial, industrial,
recreational and subsistence purposes. The harvest from mariculture,
aquaculture and other kinds of fish farming is also included.
Commercial Fishing And
The Bahamas
This industry is also a major employer as some 12,000 Bahamians find
work as fishermen, fish vendors, boat owners or processing plant
owners and workers. In The Bahamas fishing is a major source of
foreign exchange earnings as it is an economic activity approaching
$100 million annually with exports to the United States and the
European Union as the main markets. This industry is also a major
employer as some 12,000 Bahamians find work as fishermen, fish
vendors, boat owners or processing plant owners and workers. Its
contribution to the country's GDP is about 2%. The Government of The
Bahamas policy reserves the commercial fishing industry, as far, as
is practical, for the exploitation by Bahamian Nationals. Commercial
fishing vessels fishing within the Exclusive Economic Zone (EEZ)
must be 100% Bahamian owned. Seafood processing facilities have been
placed on the list of areas specifically targeted for overseas
investors. Further, all investment projects with non-Bahamian
interest must have the approval of the Government's National
Economic Council (NEC).
The Ministry of Agriculture, Fisheries & Local Government -
The Food Act, The Food (Seafood Processing & Inspection) Amendment
Regulations.
