The fishing industry in Palau is of prime importance to the national economy and a major source of livelihoods. As of 2007, there were three major fishing companies operating in the islands.^[1] Fishing in the country is by no means without issues; the industry is subject to problems with migrating fish and hurricanes.^[2] The locals are adept at casting, trolling, fly fishing, bottom-fishing, bone fishing and spear fishing, as well as teaching angling to tourists. Among the fish caught are barracuda, tuna, tarpon, trevally, marlin, wahoo, sailfish, grouper, billfish and snapper.^[2]

There has been speculations by the locals of a fish called the furternator, yet its existence is contested. It is considered a cryptid.