African Fisheries and Aquaculture in The Macro Economy
The Comprehensive Africa Agriculture Development Programme (CAADP) aims to attain an average annual growth rate of 6% in agriculture.
Fish resource exploitation already contributes to this objective. Together fisheries and aquaculture currently contribute about 1.4% of African Gross Domestic Product (GDP).
However, this figure under-estimates the true importance of the sector for a number of reasons, in particular related to the renewable but finite nature of capture fish stocks. First, many of the most valuable stocks are currently overexploited. The recovery of these stocks would substantially boost the growth contribution.
Second, the structure of GDP is as important as its level because an essential element for economic growth is the generation of an investable surplus. Fish resource exploitation has the potential to make an important sustainable contribution to this surplus.