Economic value of the Pacific Ocean to the Pacific Island Countries and Territories

Economic development Marine management Sustainability Pacific Area

The purpose of this report is to provide an overview of the known economic contributions of sectors associated with the Pacific Ocean within the PICTs boundaries. Due to the difficulties in obtaining consistent sets of economic value measures, in this report gross value product measure has generally been used together with employment figures. Economic value estimates provided in this report reflect empirical data that could be accessed from published literature, national, and regional statistics and secondary data from national governments, NGOs, and independent consultants. Global, regional, and national databases were consulted for values on national statistics to ensure a consistent approach to estimation. This study has revealed that there are many data gaps and information challenges, which will require targeted primary research using a consistent methodology and value measures across the region. It is thus but a first step towards understanding the economic contribution of the oceans resources to the economies of the PICTs, as well as the economic value of healthy Pacific Oceans

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