**Table 3. Main assumptions used for the wealth calculations of artisanal fishing of Cephalopods**<sup>**62**</sup>

|**Assumption - CEPHALOPODS**|**Non-motorized vessel**|**Motorized vessel**|
|---|---|---|
|Number of vessels in year 0|350*|1400|
|Annual vessel growth (y-o-y)|1 percent*|4 percent|
|Maximum fleet size (over the time of a<br>generation)|600 units*|4000 units*|
|Average catch per day (tons)|0.02*|0.03|
|Annual number of trips|200*|260|
|Average price per ton (USD)|5,000|5,000|
|Average total costs per vessel (annual, in USD)|13,500|48,000|
|of which: Labor costs (USD)|4,000|8,600|
|Annual depreciation costs (USD)|100|550|
|Opportunity cost of capital|15 percent of total revenues*|15 percent of total revenues*|
|**Natural wealth per capita estimates ($)**|**15**|**80.7**|

_Artisanal fishing - Pelagic_ When we look specifically at pelagic fish, it is important to highlight that the stocks of fish we are referring to belong to a sub-region that goes from Morocco to Senegal. This stock is estimated to equal approximately 10 million ton<sup>63</sup> . It is therefore hard to discuss the depletion of fish in one specific country, because of migratory species. As a matter of fact it would be very hard to isolate the portion of fish “belonging” exclusively to the Mauritanian waters, since most of the fish moves and migrates depending on seasons, temperature variations and a long potential list of environmental factors. This reduces further the level of confidence of the data under 62 Figures shown in this and in the following tables on fishery are based on data received from the Ministry of Fishery of Mauritania, the Institut Mauritanien de Recherches Océanographiques et des Pêches (IMROP) and on interviews conducted in Nouakchott and Nouadhibou during the month of February 2013. To note: the fleet sizes (of both the non-motorized and motorized vessels) have been capped to reflect the size at which diminishing returns may kick in due to overcrowding. At the same time this are all estimates and as such are subject to change, for example, depending on the evolution of the fishermen productivity. In this and the following similar tables: (*)Asterisk indicates that the value is assumed. This is made in the cases when direct data was not available.

(**) According to the Ministry of Fishery, the number of these vessels is equivalent to roughly 350, while IMROP says 90. This paper opted for a rough average of 200 vessels, within this range.

(***) The average salary for a sailor employed on a commercial vessel catching cephalopods was assumed, proxied on the ratio calculated between commercial pelagic and non-motorized pelagic (given that the average salary of a fisherman catching cephalopods on non-motorized canoes is known).

(****) Depreciation costs of the hull were assumed based on the hypothesis that a commercial large vessel engaged in cephalopod fishing costs, on average, USD 50mln and that its lifespan is approximately 25-30 years.

(*) Asterisk indicates that the value is assumed. This is made in the cases when direct data was not available.

63 Estimate sourced by interview with IMROP representatives in Nouadhibou, February 2013.

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