Egypt’s Fisheries Sector: A Key to Ensuring Food Security
Updated 12/5/2023 8:00:00 AM
Fish is a very important meal in Egypt, and is considered an important source of protein in Egyptian culture. The fishery sector and aquaculture play a significant role in the country's economy, particularly in coastal areas, where they serve as a primary source of income, employment, and livelihood. This comes as fisheries provide investment opportunities and a source of trade.
Supporting Food Security
The total annual production of fish in Egypt reached about 2 million tons, with a self-sufficiency rate of about 85%, Minister of Agriculture and Land Reclamation Al-Sayyed El-Quseir stated in June 2023. Moreover, Egypt ranks first in Africa, sixth in the world in fish farming, and third in tilapia production. The rate of self-sufficiency and export surpluses will increase as all national projects enter production at full capacity, El Quseir noted.
In May 2021, Egypt launched the Bar Aman Initiative with the aim of supporting and protecting small fishermen, in cooperation with the Tahya Masr Fund and the General Authority for Fish Resources Development. The initiative covers 42,000 fishermen nationwide at a cost of EGP 50 million, funded by the Tahya Egypt Fund, according to the Egypt State Information Service.
Egypt can further develop and attract investment to the fishing sector by “establishing a supportive policy and regulatory framework that promotes investment in fisheries, ensuring clear guidelines for potential investors. This includes providing incentives such as tax breaks, subsidies, and streamlined licensing procedures,” Ahmed Fawzy Hussein, PhD Holder and Assistant Professor in Economics, tells Arab Finance, adding that “the country should invest in research and development to improve aquaculture technologies, increase productivity, and boost competitiveness.”
Fisheries’ Economic Contribution
Egyptian fisheries, whether from natural sources or aquaculture, contribute to the country’s economy through different aspects, including employment. Agriculture and fishing achieved the largest participation rate of workers in economic activities, with the number of workers reaching 5,276 million; 4,344 million males and 932 females. At a rate of 17.8% of the total number of workers, they are likely to acquire first place within economic activities, the Central Agency for Public Mobilization and Statistics (CAPMAS) announced on November 15th the results of the power survey operating capacity for the third quarter (Q3) of 2023.
This comes as fisheries in Egypt attract investments as they provide opportunities. Hussein highlights that “fish is a vital source of affordable protein for a growing population, which creates a consistent and high demand for fish products,” explaining that the demand for fish offers a lucrative market for investments.
This comes as “the commercial value of fisheries lies not only in fish consumption but also in various byproducts, such as fish meal, fish oil, and fertilizers, which can be used in different industries. These byproducts can generate additional revenue streams for investors,” he adds.
Meanwhile, fish play a role in Egypt’s external trade; the country exports several types of fish, including tilapia, and imports several types, such as mackerel. The value of fish imports, including preserved fish, reached $411.806 million during the period from January to August 2023, according to the CAPMAS’ Monthly Bulletin of Foreign Trade Data for October.
Fish Farming
Fish farming, also known as aquaculture, has been greatly contributing to the country’s fish production. Salah Moselhi, Head of the Lakes and Fish Resources Protection and Development Authority, revealed in January 2023 that Egypt’s fish production from fishing activities accounts for 400,000 tons, equivalent to 20% of total production, and makes up 1.6 million tons from fish farming, equivalent to 80% of total output, highlighting that the country targets producing 2.3 million tons of fish in 2023.
Accordingly, fish farming plays a role in securing local demand. Hussein says that "Egypt can enhance its domestic supply and reduce the need for fish imports. This reduces the trade deficit and boosts local industries and food security. Moreover, surplus production can be exported, contributing to the country's export earnings."
This way, Egypt can enhance its fish trade and employ its location and resources to become a regional or global player in the fish markets, “enhancing its economic integration and generating foreign currency,” according to Hussein.
Hence, natural source fishing and aquaculture in Egypt are important players in food security since the fisheries sector offers significant potential for investment and economic growth.
By Sarah Samir
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