A new UK study has reported that global losses from illegal and unreported fishing cost an estimated US$10 to US$23.5 billion a year.
David J Agnew of Imperial College, London, led the study, analysing fisheries data from 54 countries. Mr Agnew estimated that illegal, unreported and unregulated (IUU) fishing weighs in at 11 to 26 million tonnes a year. It was noted that illegal fishing was an important drive of overfishing.
The study looked towards better governance to monitor IUU fishing however pointed out that it was not to say that developing countries with poor governance was necessary to blame for illegal fishing.
"They are more vulnerable to illegal activities, conducted by their own fishers and vessels from distant water fishing nations," he said.
