Antarctica Economy - overview

Economy - overview: Fishing off the coast and tourism, both based abroad, account for Antarctica's limited economic activity. Antarctic fisheries in 2003-04 (1 July-30 June) reported landing 136,262 metric tons (estimated fishing from the area covered by the Convention on the Conservation of Antarctic Marine Living Resources (CCAMLR), which extends slightly beyond the Antarctic Treaty area). Unregulated fishing, particularly of Patagonian toothfish, is a serious problem. The CCAMLR determines the recommended catch limits for marine species. A total of 23,175 tourists visited in the 2004-05 Antarctic summer, up from the 19,486 visitors the previous year. Nearly all of them were passengers on commercial (nongovernmental) ships and several yachts that make trips during the summer. Most tourist trips last approximately two weeks.

Definition: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.

Source: CIA World Factbook - Unless otherwise noted, information in this page is accurate as of April 17, 2006