(18 November 2021) – The 2021 Annual Economic Report on the EU Fishing Fleet confirms that in 2019, the fleet maintained good profits overall, mainly thanks to sustainable fishing practices and management.
The report projects similar profitability levels for 2020, despite the effects of the COVID-19 pandemic on the fleet and fish markets. Sustainable fishing practices are helping to mitigate some of the impacts of the rising fuel prices.
The EU fleets remained profitable overall with a landed value of €6.3 billion, gross profits of €1.2 billion and net profits of €597 million in 2019. The good performance was the result of high average fish prices and the improved status of some important fish stocks.
At the same time, the report shows differences in performance across fleet categories and fishing regions. The large-scale fleet segments registered better economic performance than the small-scale coastal fleet segments.
Furthermore, the fleet segments operating in the North-Eastern Atlantic, where most fished stocks are managed at sustainable levels, registered higher economic performance than the fleet segments operating in the Mediterranean and Black Sea regions, where many stocks still face overfishing.