The value added of fisheries and aquaculture rose by 10 per cent from 2019 to 2021. The contribution of sustainable fisheries to GDP declined 5.4 per cent in 2021, however, mainly due to the expansion of other economic sectors and the declining sustainability of several fish stocks in some regions. This marks a second consecutive drop following a brief period of growth from 2015 to 2017. Recovery from COVID-19 disruptions has been challenging, with the industry facing volatile demand and rising costs.

Several countries that depend heavily on fisheries for livelihoods and food security, however, have seen positive developments. In sub-Saharan Africa, the contribution of sustainable fisheries to GDP climbed from 0.38 per cent in 2019 to 0.42 per cent in 2021. Small island developing States have similarly shown promising growth, from 0.46 per cent of GDP in 2019 to 0.51 per cent in 2021. Pacific small island developing States, which rank among the countries most dependent on fisheries globally, increased their share from 1.54 per cent of GDP in 2019 to 1.63 per cent in 2021. This rise underscores the sector's potential to drive economic development. Sustaining economic dividends from fisheries, however, requires judicious fish stock management practices that prevent overexploitation and depletion.

As of May 2024, there are 18,200 marine protected areas and 199 other effective, area-based conservation measures¹ covering over 29 million square kilometres or 8.12 per cent of the ocean. This represents a more than tenfold increase in marine protected area coverage since 2000, largely due to the establishment of very large areas exceeding 100,000 square kilometres. Progress has stalled since 2020, however. Reaching the 10 per cent SDG target by 2030 calls for effectively managing important sites covering an average additional 1.13 million square kilometers of ocean each year. Renewed momentum for marine conservation is expected from global agreements. The Kunming-Montreal Global Biodiversity Framework commits to establish protected areas to safeguard areas of particular importance for biodiversity, adding up to cover 30 per cent of oceans by 2030. Additionally, the Agreement on Marine Biodiversity of Areas Beyond National Jurisdiction aims to protect marine biodiversity in international waters and seabed. Adequate management of such protected areas will be crucial to realize conservation benefits.

Marine designations should also be strategically located to safeguard key biodiversity areas. Since 2000, average protected area coverage of marine key biodiversity areas has nearly doubled, but growth has stagnated since 2015. From 2000 to 2015, Oceania (excluding Australia and New Zealand) saw a staggering 255 per cent increase in key biodiversity area coverage, followed by Northern Africa and Western Asia (128 per cent) and sub-Saharan Africa (86 per cent).

Rising ocean temperatures are raising new concerns for coral reefs, which support a quarter of marine species, provide resources for hundreds of millions of people in coastal communities and generate trillions of dollars in revenue annually. According to the World Meteorological Organization, as of April 2024, sea surface temperatures had reached record highs for 13 consecutive months. In 2023, ocean heat content soared to its highest level in 65 years; over 90 per cent of the ocean experienced heatwave conditions at some point during the year. The National Oceanic and Atmospheric Administration confirms the world is currently experiencing its fourth global coral bleaching event, the second in a decade. Bleaching has been observed in 53 countries and territories, including throughout the tropics, the Great Barrier Reef, large parts of the South Pacific, and the Atlantic and Indian ocean basins.

As oceans continue to warm amid rising global temperatures, the frequency and severity of coral bleaching will likely increase. The Intergovernmental Panel on Climate Change warns that up to 90 per cent of corals could be lost by 2050 at 1.5°C of warming and up to 99 per cent at 2°C. The survival of coral reefs is vital for ocean health and humanity's well-being.