(19 January 2017) – The economic performance of the EU fleet improved significantly again in 2014, according to the latest Annual Economic Report, published today.
Between 2008 and 2014, the EU fleet moved from a loss-making position in 2008 to registering record-high net profits of €770 million in 2014 – up from €500 million in 2013. Forecasts for 2016 remain positive.
The EU fleet’s gross value added, i.e. the contribution of the fish catching sector to the economy through wages and gross profit, amounted to €3.7 billion in 2014. This represents an 11% increase on the previous year. Average salaries in the EU fleet also increased during the period of analysis. Fuel consumption and fuel use intensity decreased significantly, as a result of the more efficient way in operating many EU fleets.
According to the Annual Economic Report, the improved economic situation is evident as more and more fish stocks are being fished sustainably. That is, in line with Maximum Sustainable Yield (MSY), allowing the fishing industry to take the highest amount of fish from the sea while keeping fish stocks healthy.