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Fishing Industry Essay

2969 words - 12 pages

University of |
The Impact of Bangladesh Fishing Industry on the Local Economy
|
Fishing in Bangladesh |

Submitted By:
3/4/2014
|

Table of Contents
1. Introduction--------------------------------------------------------------------------------------------3
2. Bangladesh Economy and Fisheries Impact on their Economy-------------------------4
3.1. Current Situation of Bangladesh Economy----------------------------------------------4
3.2. Fisheries in Bangladesh----------------------------------------------------------------------4
3.3. Dried Fish in Bangladesh--------------------------------------------------------------------6
3.4. Frozen ...view middle of the document...

An artisanal fishery is done through 22,000 motorized boats as well as 29,000 non-motorized boats that are operating in the coastal waters. Fisheries also use various fishing gears in order to exploit multi-species marine resources in Bangladesh. The major fishing gears are operated in the offshore and coastal waters at the Bay of Bengal by using grill nets, trawl nets, set bag nets, push nets, traps and hook and line (Hossain, pp. 3-6, 2004).
Fishing has played a very crucial role in the development of Bangladesh economy that offers more than 60 percent of animal sources of food along with crucial micro-nutrient foods. Fish in Bangladesh including both shrimp and prawn has contributed greatly in generating employment in the country and become the most important agricultural crop. The culture of fishing in this country is also very promising to give security of nutritional food by overcoming poverty and growth in the country. Due to their highly diversified and extensive fisheries resources, Bangladesh has witnessed excellent growth. Total fish production in Bangladesh has been estimated to around 2.56 million tones and it has accounted for 39% of the overall economy of this country. The impact of fishing industry in the local economy is very important in this country and statistics have shown that they have enhanced numerous growths by increasing household income in their Household Income and Expenditure Survey in 2005. Estimates have further suggested that 399,000 ton of fisheries were produced in the country out of which 390,000 were derived from semi-intensive sources and 395,000 ton was taken from pellet fed intensive resources. So the contribution of fisheries in the Bangladesh economy has played a very important role in the growth of Bangladesh economy (Belton et al., pp. 1, 2011).
2. Bangladesh Economy and Fisheries Impact on their Economy
3.1. Current Situation of Bangladesh Economy
Bangladesh economy has witnessed small but very sustainable growth in their economy since 1971 after their independence. The economic growth in this country is based on the development of various economic indicators including human capital, poor infrastructure growth, and market failures in some specific sectors of the economy, corruption, low trade level, and some regulations at government level. Bangladesh economy has shown considerable growth since 1980s after making some economic adjustments. According to latest index, GDP per capita growth in Bangladesh was about 21,000 taka in 2009. But Bangladesh economy was strongly supported by their fisheries industry along with their agricultural, industrial and services sector (Rahman, pp. 1-4, 2010).
3.2. Fisheries in Bangladesh
Fisheries in Bangladesh have shown incredible contribution in their economic growth that was remained small and consistent over the period of time. In their coastline areas of 710 KM, they can derive just only 20 percent of their total fisheries production from...

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