The Sultanate achieved high rate of self-sufficiency in fish production, exceeding 200% in some years, while in 2016 it reached about 176%. The monthly average of Omani household expenditure on fish and marine products reached RO 18.6, according to household expenditure and income data survey 2016.
According to the report of the National Centre for Statistics and Information (NCSI) the total value added of the fish sector in the Sultanate at the end of 2016 amounted to RO 197.3 million with a growth rate of 17.7% compared to 2015. The gross value added amounted to RO 189.9 million and the contribution of the sector to GDP increased 0.8% in 2016 from about 0.6% in 2015, according to statistics released by the National Centre for Statistics and Information (NCSI).
The fisheries sector is expected to achieve an average growth rate of 6.5% during the Ninth Five Year Plan (2016-2020). Of the total output of 280,000 tons, there was an increase of 8.7% compared to 2015. Fish exports increased by 2,7% in 2016 to 113,6 thousand tons, the value of exports increased by about 9.9 million riyals compared to 2015 to reach 58.8 million riyals.
The GCC countries accounted for 57% of the Sultanate's fish exports quantity, 67% of which was to the United Arab Emirates and 56% fresh fish formed part of the total quantity of exports. The total fish imports at the end of 2016 increased by 37.3% to reach 32.4 thousand tons and the value of fish imports increased by 4.6 million riyals compared to 2015. Of the total value of imports, 37% came from Yemen, followed by the United Arab Emirates (29%) and Somalia (8%).
The total quantity of re-exported fish from the Sultanate was 5 thousand tons with a total value of RO 3.8 million and Saudi Arabia accounted for 46% of re-exported fish value. The data indicate that the total number of fishing licenses in 2016 amounted to 47 thousand and 470, while the number of fishing boats was 22 thousand and 720. The number of artisanal fishing vessels was at 700 and 134 fishing vessels were being used for coastal fishing while one ship engaged in commercial fishing. The number of licenses for fish transfer and marketing was at 4 thousand and 195 licenses. A total of one thousand and 20 loans for a value of 6.9 million rials were granted for fisheries development by banks in the Sultanate as investments in the sector until 2016
By the 2030-2040 period, fish farming is expected to increase to around 220,000 tons with a financial value of RO 346 million. The total investment expected during the period of the Ninth Five-Year Plan is 1.1 billion riyals.
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