Highest Fisheries GDP Growth in 5 Years

Indonesia's fisheries sector Gross Domestic Product (GDP) has shown continuous year-on-year growth. According to statistics from the Ministry of Marine Affairs and Fisheries (KKP), in 2015, fisheries GDP growth recorded its highest figure in the last five years at 8.37 percent. This growth was higher than the national GDP growth, which was only 4.79 percent.

The KKP targets a 12 percent fisheries GDP growth by 2019. This increased target growth rate is supported, among other things, by increasingly strict enforcement of regulations in the fisheries industry. For example, in 2016, the government issued Presidential Regulation Number 44 of 2016 concerning the list of closed and open business fields in Indonesia. This regulation, among other things, limits foreign involvement in Indonesian capture fisheries.

This policy is believed to stimulate increased domestic fisheries production. In the long term, the national fisheries industry will improve, and fishermen's income will increase.