Piracy in Somalia

PIRACY IN SOMALIA First Reported in 2005 SUS 315-385 million in losses Pacific denan 149 ships Galfof ransomed SOMALIA Aden Arlan te dua Ialies dnan 4,000,000 km of operations 82-97 casualtios reported Somali pirate operate far beyond Somali national waters and into the Indian Ocean, the Red Sea and the Gulf of Aden. Somali pirate attacks have been reported for the last 8 years estimating losses ap to $385 million and have caused up to 97 casualties. IMPACT IN THE WORLD 3741 who have been Joss of detained for 7.4% yearly trade crewmembers from 125 up to 3 years different nationalities compared to pairs of countrios that trade through other sea rou tos TAX SUS 18,000,000,000 increase 1.1% this means an extra tax on the Joss to the world trade economy total value of all shipments carried through the zone where pirates operate ad-valorum tax SUS 53,000, 000 is received annually for ransom payment LOW-INCOME Somali pirates have the ability to win support from, among many others, government officials, businessmen, clan elders and mem- ben, militia ties. Piracy in Somalia is costing the worldwide economy too much, while piracy's income is not nearly as profitableas the losses. COUNTRIES ARE DISPROPORTIONATELY AFFECTED religious leaders, and members of local communi 70-86% of piracy proceeds are suppliers of food and khat; militiamen; and providera who can move and launder ransom proceeds split by instigators and commanders 25% can chargo pirates significant markups on their goods and of imports/exports in low-income countrios are servicos. dlassified as affocted IMPACT IN AFRICA & SOMALIA Somali piracy is singular for its scale, geographic scope, and violence which has Created public anxiety. Effective and sustainable interven- tions over the long term will require shifting focus from the perpe trators to the enablers of piracy. FISHING INDUSTRY TOURIST INDUSTRY 100 6.5% drop on visits to East African coastal countries hijackings in fishing zones compared to visits to other countries 44 25% fishing vessels some are still captive less than any sub-Saharan African country 234 fishermen were on vessels that sunk or were taken captive, some are still captive 26.8% of the annual tuna catch has been affected by pirates Source: The Pirates of Somalia: Ending the Threat, Rebuilding a Nation. World Bank, 2013 http://www.worldbank.org/africa Africa |REgion @WorldBankAfrica THE WORLD BANK PIRATES HAVE HIJACKED