The significance of fisheries in the economy is as follows:
1. Offering valuable employment and self-employment opportunities, the industry proves to be a significant source of livelihood for many individuals.
2. Fish contribute to a nutritious diet, serving as a vital source of wholesome food.
3. The fishing industry generates various commercially valuable by-products, including fish oil, fish meat, fertilizers, and fish glue.
4. These by-products play a crucial role in the manufacturing of paints, soaps, oils, and medicines.
5. Globally, prawns and lobsters command high market value, making them sought-after commodities worldwide.