The Government of Sri Lanka and the World Bank convened a high-level policy dialogue to discuss the findings and recommendations of a report titled Priorities for Sustainably Managing Sri Lanka’s Marine Fisheries, Coastal Aquaculture, and the Ecosystems that Support Them.
Fisheries contribute significantly to livelihoods and food security in Sri Lanka. Sri Lankans get about 50 percent of their animal protein from fish, which is about three times the global average. Coastal and marine fisheries provide full- or part-time direct or indirect employment to some almost 1 million people and support the livelihoods of another 3.6 million Sri Lankans. At the same time, the sector’s contribution to gross domestic product (GDP) and export revenues are modest. In 2019, these were only 1.9 percent and 1.5 percent, respectively.
“The fisheries sector has the potential to make Sri Lanka competitive in the global markets and to increase jobs, food security, and export earnings in a sustainable manner for the benefit of local communities,” said Faris Hadad-Zervos, World Bank Country Director of Sri Lanka, Maldives, and Nepal. “New knowledge, innovative thinking, and close coordination between the public and private sectors are crucial to realizing this potential.”
Sri Lanka’s marine fisheries sector was hit hard by the COVID-19 pandemic. Fish catches declined as much as 20 percent and exports fell by 26 percent in 2020. National catches are not sufficient for domestic demand and need to be complemented by imports. In 2020, Sri Lanka imported $218 million worth of fish. The sector was already challenged due to overfishing, declining fish stocks, degradation of coastal ecosystems due to habitat destruction and pollution, and the impacts of climate change. Sustainable management of fisheries is key to ensuring Sri Lanka’s food security and meeting the high domestic demand for fish.
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