The annual economic report (AER) on the European Union fishing fleet, published by the Joint Research Centre on Monday 1 October, shows the unprecedented economic results of the sector in 2016.
The report shows that the EU fishing fleet notched up record-high net profits of €1.3 billion in 2016, i.e. a 68% increase compared with 2015.
Karmenu Vella, European Fisheries Commissioner, hailed the rise in profits for the fisheries sector, saying: “Our joint commitment in favour of sustainability is paying off”.
The report states that 2016 improvements are mainly due to the rise in the average price of fish and the continued low fuel prices.
The report also notes improved status for some important fish stocks. It confirms that economic performance stagnates when the fleets depend on stocks that are still in a state of overfishing, the Commission points out.
In 2016, the EU’s fishing fleet was composed of 83,360 vessels with combined gross tonnage of 1.56 million tonnes and engine power of 6.3 million kilowatts (kW). The EU’s fleet capacity has continued to decline regularly at an average rate of around 2% per year. The Commission says the outlook for 2017 and 2018 looks promising. (Original version in French by Lionel Changeur)