The 2017 Annual Economic Report on the EU fishing fleet (STECF 17-12)
05 October, 2017 Griffin Carpenter

In 2015, the EU fishing fleet numbered 84 420 vessels with a combined gross tonnage (GT) of 1.62 million tonnes and engine power of 6.44 million kilowatts (kW). EU fleet capacity continues to decrease steadily at an average annual rate of 2.2% in terms of vessel numbers and engine power (kW) and 2.5% in terms of gross tonnage (GT). Based on data submitted by Member States under Data Collection Framework (DCF), there were 63 976 active vessels in 2015, of which 74% were classed as small-scale coastal vessels, 25% as large-scale and remaining 1%, distant-water vessels. The EU inactive fleet, amounting to 20 444 vessels, represented 24% of the total EU fleet in number, 9% of the gross tonnage and 14% of the engine power. Direct employment generated by the fleet amounted to 152 720 fishers, corresponding to 114 863 FTEs; on average earning €24.8 in wages annually. The EU fleet spent 4.8 million days at sea and consumed 2.3 billion litres of fuel to land over 5 million tonnes of seafood with a reported value of €7 billion. Revenue (income from landings plus other income) earned by the EU fishing fleet in 2015 (excl. Greece) was estimated at €7.27 billion. The amount of Gross Value Added (GVA) and gross profit (all excl. subsidies) generated by the EU fishing fleet (excl. Greece) was €3.9 billion and €1.6 billion, respectively. GVA as a proportion of revenue was estimated at 54% and gross profit margin at 23%. With a total net profit of €798 million in 2015, 11% of the revenue was retained as profit, up from 7.4% in 2013 and remaining stable compared to 2014 This publication includes: 1) An structural and economic overview of the EU fishing fleet in 2015, with projections for 2016-2017, and trend analyses for the years 2008-2015; 2) A regional analysis of the EU fishing fleet by major sea basin: Baltic Sea, North Sea & Eastern Arctic, North East Atlantic, Mediterranean & Black Sea, as well as fleets operating in Other Fishing Regions, including the Northwest Atlantic, Outermost regions and Other regions; 3) A detailed structural and economic overview of each EU Member State fishing fleet, including qualitative economic performance assessments for 2015 and projections for 2016 and 2017.

This report was originally published by the European Commission here.

This post is part of the Policy to plate series. Click to read more.