Southern Ocean Economy - overview

Economy - overview: Fisheries in 2006-07 landed 126,976 metric tons, of which 82% (104,586 tons) was krill (Euphausia superba) and 9.5% (12,027 tons) Patagonian toothfish (Dissostichus eleginoides - also known as Chilean sea bass), compared to 127,910 tons in 2005-06 of which 83% (106,591 tons) was krill and 9.7% (12,396 tons) Patagonian toothfish (estimated fishing from the area covered by the Convention of the Conservation of Antarctic Marine Living Resources (CCAMLR), which extends slightly beyond the Southern Ocean area). International agreements were adopted in late 1999 to reduce illegal, unreported, and unregulated fishing, which in the 2000-01 season landed, by one estimate, 8,376 metric tons of Patagonian and Antarctic toothfish. In the 2007-08 Antarctic summer, 45,213 tourists visited the Southern Ocean, compared to 35,552 in 2006-07, and 29,799 in 2005-06 (estimates provided to the Antarctic Treaty by the International Association of Antarctica Tour Operators (IAATO), and does not include passengers on overflights and those flying directly in and out of Antarctica).

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 February 21, 2013