2018 FISHING LICENSE REVENUE

In 2018, fishing license revenue continued to be a cornerstone of Kiribati’s economy, accounting for approximately 72% of the nation's GDP. This substantial income was primarily generated through the licensing of foreign fishing vessels operating within Kiribati's Exclusive Economic Zone (EEZ), one of the world's most productive tuna fisheries.

The Ministry of Finance and Economic Development (MFED), in collaboration with the Ministry of Fisheries and Marine Resources Development (MFMRD), closely monitored these revenues to ensure sustainable management and optimal economic returns. The significant contribution of fishing license fees bolstered the government's fiscal position, enabling increased public spending and investments in national development initiatives.

However, the reliance on fishing license revenue also underscored the need for prudent fiscal management, given the volatility associated with external factors such as international fish prices and environmental conditions. To address these challenges, the government emphasized the importance of diversifying income sources and strengthening financial frameworks to maintain economic stability.

Overall, the 2018 fishing license revenue exemplified the critical role of sustainable fisheries management in supporting Kiribati's economic resilience and development goals.