BELMOPAN, Fri. Oct. 22, 2021 –Recently, OCEANA issued a report on the state of fisheries in Belize. The report provided a detailed overview of the country’s commercial and subsistence fisheries and assessed the status of fisheries resources. OCEANA’s report noted that Belize’s fisheries sector is similar to that of other Caribbean nations in the region, and it attributed this similarity to the colonial history shared by Belize and other countries in the region.

As is the case in other Caribbean countries, Belize’s marine and coastal resources contribute significantly to the economy. Oceana’s report notes that due to these resources, Belize enjoys a thriving fishing and tourism industry, and these resources also serve as a natural protection from natural disasters. By 2009, according to one estimate, marine and coastal resources contributed as much as between 15 and 22 percent of Belize’s gross domestic product (GDP). A decade later, the portion of the country’s GDP derived from tourism and seafood production skyrocketed to 30 percent of Belize’s GDP; however, the fishing industry only accounted for 1 percent.

The OCEANA report showed a stark decline in seafood production over the past decade. For the period 2009 to 2014, the revenue from that sector fluctuated, with an initial annual export estimated at BZ$103.7 million and ending at an all-time high of BZ$128 million. Since then, the industry’s revenue plummeted and is yet to recover, with its last recorded exports being valued at BZ$27.7 million in 2019, the second-lowest value for the ten-year period. OCEANA did note some obvious limitations to the income generated from seafood production. Production data is generated from national fishing cooperatives and does not factor fish sold directly to consumers, or fish caught by independent fishers. Due to this, OCEANA claims its numbers are significantly underestimated — possibly two times lower than its actual value. Notably, the OCEANA report outlined a significant decline in the export of shrimp, lobster, and conch.

While seafood production has not been a large contributor to Belize’s total revenue, marine and coastal resources still play a vital role through other forms of income generation. Tourism stands as one of the largest contributor to Belize’s GDP. In 2019, tourism employed approximately 17 percent of Belize’s population and contributed a significant 29 percent of Belize’s GDP. Its major drivers were considered sport fishing, cruise tourism, and the Belize Barrier Reef. Tourism’s significance to Belize’s economy was further heightened by its contribution to Belize’s total exports — with tourism comprising 40 percent of the total exports between 2008 and 2012. Belize was the only Caribbean country in which both fisheries and tourism are sources of a high percentage of its GDP in recent data.

The recent decline in Belize’s economy, however, and the emerging challenges associated with climate change suggest that economic recovery will not be an easy feat for the Caribbean country. OCEANA notes that by properly protecting and managing its natural resources, however, Belize will bolster its climate resilience, and chart a path to a sustainably viable future.