The Importance of Oysters to the Economy

Oysters are a type of shellfish, which are classified scientifically as Mollusks. Oysters possess an economic importance to people and organizations in economies worldwide. The economic importance depends on the people and organizations involved in a transaction involving oysters.

  1. Importance To Cultivators

    • People who cultivate oysters do so for reasons such as meat, shells, and pearls. These cultivators either get paid to cultivate oysters or make money by selling them to organizations such as restaurants or jewelry businesses. Oyster shells can be used in jewelry making but are generally not as valuable as oyster pearls.

    Importance to Businesses

    • Businesses provide oysters to consumers in various ways. A restaurant cooks and serves oysters to paying guests. A jewelry business fashions oyster pearls into jewelry and sells them to customers. Stores sell oyster shells to be used with arts and crafts.

    Importance To Government

    • When money, goods, and services are transacted in any country the government makes money, most notably by taxes, and oysters are no exception. In terms of oyster meat, the estimate of annual worldwide oyster cultivation is 3.2 million bushels at approximately $20 per bushel. It is difficult to calculate the annual cultivation of pearls worldwide, but the number is approximately 10 tons. The value of individual pearls varies greatly and depends on size and quality.