Final Country Report: Grenada (2009)
The contribution of fisheries to the national economy has been increasing at an annual average of EC$25.5 million from 2003 to 2009 which is equivalent to 2.8% of GDP. Although relatively small, the contribution of the industry to employment, food security, poverty alleviation and nutrition is very significant. The industry employs 3,000 persons which represent 10% of the work force. Additionally, the per caput supply of fresh fish is 16 kg. The industry experienced an average annual growth rate of 14.4% over the same period, except for 2004 when there was a decrease of 16.2%, mostly attributable to the passage of hurricane Ivan which struck the Island on 7th September of the same year.
The Fisheries sector makes a significant contribution to the economy of Grenada. In 2005, it was estimated that fish production contributed US$9,144,444 to the economy of Grenada, which represented approximately 1.76% of the total 2006 GDP ($520,000,000) of the country. (Comment: don’t quite understand why the value and % of fisheries contribution to GDP in 2005 is compared to 2006.
One of the most important international agreements influencing fisheries management is the United Nations Convention on the Law of the Sea (UNCLOS) of 1982 (and its protocols). The UNCLOS process generated two pieces of legislation in 1988: the Territorial Waters Act, and the Marine Boundaries Act, later consolidated and updated into the Grenada Territorial Sea and Marine boundaries Act #25 of 1989. Earlier in 1986, the parent legislation, the Grenada Fisheries Act #15 was passed and regulations SRO #9, 1987, became part of the Organization of Eastern Caribbean States (OECS) Harmonized Laws.
Area of interest: Grenada