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    Pacific Ocean Economy 1997

      Economy - overview The Pacific Ocean is a major contributor to the world economy and particularlyto those nations its waters directly touch. It provides low-cost sea transportationbetween East and West, extensive fishing grounds, offshore oil and gas fields,minerals, and sand and gravel for the construction industry. In 1985 overhalf (54%) of the world's fish catch came from the Pacific Ocean, which isthe only ocean where the fish catch has increased every year since 1978. Exploitationof offshore oil and gas reserves is playing an ever-increasing role in theenergy supplies of Australia, NZ, China, US, and Peru. The high cost of recoveringoffshore oil and gas, combined with the wide swings in world prices for oilsince 1985, has slowed but not stopped new drillings.

      NOTE: The information regarding Pacific Ocean on this page is re-published from the 1997 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Pacific Ocean Economy 1997 information contained here. All suggestions for corrections of any errors about Pacific Ocean Economy 1997 should be addressed to the CIA.

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    Revised 06-Mar-02
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