Oceans hold the promise of immense resource wealth and great potential for boosting economic growth, employment and innovation. In the same time, they are recognised as indispensable for addressing many of the global challenges facing the planet, from food security and climate change to the provision of energy, natural resources and health care. But they are already over-exploited, polluted and confronted with climate change.

The world’s oceans, seas and rivers are a major source of wealth, creating trillions of dollars’ worth in goods and services as well as employing billions of people. […] Yet Africa’s blue potential remains untapped.

©2010 ERSI

Open any atlas, look at any globe, and Ireland appears as a small green island on Europe’s Atlantic rim. In fact, Ireland’s territory is almost the size of Germany, and mostly blue.

Fisheries may be an ancient economic activity, but nowadays they are at the forefront of globalisation. First, there is the trade itself: a blue hake caught off the coast of New Zealand by a Japanese vessel may be processed in China before being flown to a market in London or Paris.

The EU’s ban on discarding caught fish in February 2013 has received widespread applause. Why?

E. Ostrom ©C. Meyer/Indiana University

Nobel laureate for Economics, Elinor Ostrom, spoke at the OECD in June. At a time when new models are needed, could her ideas on common resources and governance offer guidance?

After environmental and economic turbulence, Canada’s fisheries are being reformed. The sector is now undergoing a renaissance, though challenges remain.

Economic data

GDP growth: +0.6% Q3 2017 year-on-year
Consumer price inflation: 2.3% Sept 2017 annual
Trade: +4.3% exp, +4.3% imp, Q3 2017
Unemployment: 5.7% Sept 2017
Last update: 14 Nov 2017

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