The Mexican fishing industry has developed substantially over the years with significant advances in fishing equipment and technology. The nation has access to an abundant and diverse sea life. Millions are employed in the fishing sector, and it provides great opportunities for economic growth in the country as well.
Current growth prospective
The fishing industry in Mexico provides numerous opportunities for employment of over 2 million Mexicans. The country presently provides 1 million 753 thousand tons of protein-rich fish per year, which is perhaps why it’s extremely essential to find methods to keep the Mexican fishing industry active and booming.
It was found that Mexico had immense potential for growth in the fishing sector; though it must adopt more sustainable fishing techniques, while concurrently fighting against illegal fishing practices in the country.
It was predicted that if such sustainable practices were adopted, over the next 20 years, Mexico could possibly earn revenues of $211 million. Moreover, they will also have 70% more sea life while increasing the number of fish products by 24%.
To achieve maximum economic growth in the sector, it is essential to use diverse scientific and economic tools. If every angler is allocated a specific amount of fish, it will inevitably lead to a regeneration of resources.
Important developments in the fisheries sector
Accounts for landings and aquaculture during 2006–2014 for Mexico stand at approximately 1.5 million tons per year, which is equal to around 17 billion Mexican pesos. The greatest profit was earned in 2014, at approximately 23 billion pesos.
Fisheries landings at the nationwide level signify 85% of total fish catch in the country, with a hefty production of more than 1.2 million tons per year and subsequent profits of 11 billion Mexican pesos. The Northwest region experiences the largest fish catch, with 78 percent of the yearly average. The states that this region comprises of are Sonora, Sinaloa, Baja California Sur, and Baja California.
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