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Economic Reasons to Transition to Active Co-management of Peru's Jumbo Flying Squid Artisanal Fishery

October 13, 2022

The Peruvian artisanal squid fleet accounts for more than 45% of the worldwide landings of the jumbo flying squid (JFS) fishery, the largest invertebrate fishery worldwide. Nevertheless, most vessels involved in the fishery lack secure tenure rights and operate within the informal economy. Interviews and a survey directed to ship-owners allowed identification of three economic regimes under which the fleet operates and estimation of annual operating costs, revenues, and added value. Our results show that the fishery has high economic importance in Peru, accounting annually for 9–15% of the total Peruvian fisheries sector’s GDP.

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