EU fishing report published

The report suggests that the EU fishing fleet moved from loss to profit in 2010. Credit: TheAnswerMan/Wiki. License: CC BY-SA 3.0 The report suggests that the EU fishing fleet moved from loss to profit in 2010. Credit: TheAnswerMan/Wiki. License: CC BY-SA 3.0
Industry Database

The 2012 Annual Economic Report on the European Fishing Fleet has been published.

The report provides an overview of the structure and economic performance of the EU fishing fleet in 2010 and highlights some key trends between 2005 and 2011.

The main findings suggest that the EU fishing fleet moved from a loss making position to post a profit in 2010. Overall, the EU fleet showed improvements in all the main economic performance indicators analysed when compared to 2009: GVA was calculated at €3.4 billion, an increase of 5.7%; gross profit was €1.2 billion, a 39.5% increase and net profit was €288 million, an increase of over €300 million from 2009 (all excluding subsidies).

Additionally, GVA, gross profit and net profit as a proportion of total income increased in 2010 compared to 2009. GVA as a proportion of total income increased steadily from 42% in 2008 to 47% in 2009 to 49% in 2010. Gross profit as a proportion of total income increased from 12% in 2008 to 13% in 2009 to 18% in 2010. Net profit as a proportion of total income increased from negative 0.4% in 2009 to 4% in 2010.

The full report can be found here.

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