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Pirates of Somalia

Piracy In Somalia



First reported in 2005



$US 315-385 millions in losses

149 ships ransomed

82-97 casualties reported

4,000,000 km of operations



Impact In The World

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 up to $385 million and have caused up to 97 casualties.



Pirates have hijacked

3741 crewmembers from 125 different nationalities

who have been detained for up to 3 years



Resulting in a

loss of 7.4% yearly trade compared to pairs of countries that trade through other sea routes



Tax update increase 1.1% ad-valorum tax

this means an extra tax on the total value of all shipments carried through the zone where pirates operate



$US 18,000,000,000 loss to the world trade economy

$US 53,000,000 is received annually for ransom payment



Low-income countries are disproportionately affected



Somali pirates have the ability to win support from, among may others, government officials, businessmen, clan elders and members, militia, and religious leaders, and members of local communities. Piracy in Somalia is costing the worldwide economy too much, while piracy's income is not nearly as profitable as the losses.



25 % of imports/exports in low-income countries are classified as affected



suupliers of food and khat; militiamen; and providers who can move and launder ransom proceeds can charge pirates significant markups on their goods and services.



70-86% of piracy proceeds are split by instigators and commanders



Impact in Africa & Somalia

Somalia piracy is singular for its scale, geographic scope, and violence which has created public anxiety. Effective and sustainable interventions over the long term will require shifting focus from the perpertrators to the enablers of piracy.



Tourist Industry

6.5%

drop on visits to East African coastal countries compared to visits to other countries.



25% less than any sub-Saharan African country



Fishing Industry

100

hijackings in fishing zones

44

fishing vessels

some are still captive

234

fishermen were on vessels that sunk or were taken captive, some are still captive

26.8%

of the annual tuna catch has beenn affected by pirates

Pirates of Somalia

shared by worldbank on May 29, 2013 in Business

Pirates of Somalia

shared by worldbank on May 29, 2013 in Business

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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...
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