Economy - overview: Fishing off the coast and tourism, both based abroad, account for the limited economic activity. Antarctic fisheries in 2000-01 (1 July-30 June) reported landing 112,934 metric tons. Unregulated fishing, particularly of tooth fish, is a serious problem. Allegedly illegal fishing in antarctic waters in 1998 resulted in the seizure (by France and Australia) of at least eight fishing ships. The Convention on the Conservation of Antarctic Marine Living Resources determines the recommended catch limits for marine species. A total of 12,248 tourists visited in the 2000-01 antarctic summer, down from the 14,762 who visited the previous year. Nearly all of them were passengers on 21 commercial (nongovernmental) ships and several yachts that made trips during the summer. Most tourist trips lasted approximately two weeks.
Definition: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of April 17, 2003
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