Economy of French Southern Territories

Economy of French Southern Territories

The territory's natural resources are limited to fish and crustaceans. Economic activity is limited to servicing meteorological and geophysical research stations and French and other fishing fleets.

The main fish resources are Patagonian toothfish and spiny lobster. Both are poached by foreign fleets; because of this, the French Navy and occasionally other services patrol the zone and arrest poaching vessels. Such arrests can result in heavy fines and/or the seizure of the ship.

France used to sell licenses to foreign fisheries to fish the Patagonian toothfish; because of overfishing, it is now restricted to a small number of fisheries from Réunion Island.

The territory takes in revenues of about €16 million a year.

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