EU fishing fleet's economic recovery

01 Oct 2012
EU fishing fleet moved from an overall loss to profit. Photo: EU 2012

EU fishing fleet moved from an overall loss to profit. Photo: EU 2012

According to the 2012 Annual Economic Report (AER), the European fishing fleet made an economic recovery in 2010 after two years of declining profitability.

The report, carried out jointly by the Joint Research Centre (JRC) and the Commission’s Directorate General for Maritime Affairs and Fisheries, found that despite facing higher fuel costs in 2010, the EU fleet increased its net profit compared to 2009. This was due to an increase in landing fuel, average first-sale prices, an increase in the total weight caught and a decrease in labour costs.

An examination of economic performance by Member State revealed that only 11 out of 21 Member States made a net profit in 2010, compared to 12 in 2009. Analysis also showed a significant difference between regions, countries and fleet segments. Fish caught in the Mediterranean Sea and Black Sea obtained the highest average price per kilogram of fish, at €4.80/kg compared to €0.34/kg fish for the Baltic Sea.  

The data provided by the EU fishing fleets also showed that profit margins are extremely low. Total operating costs were found to be higher than total income for a number of fleets and were, on average 92% of total income in 2010 – an improvement compared to 2008 (96%) and 2009 (95%).

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