EU fishing fleet moves into profit Published: 12 September, 2012
THE European Commission has published its annual economic report on the EUs fishing fleet yesterday, September 11. It shows that, according to the EU Member States most up-to-date figures, the fleet moved from a loss-making position in 2009 to post a profit in 2010.
Overall, the 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. Despite the uncertain economic climate, economic performance projections for 2011 indicate that profitability improved for around three quarters of the national fleets analysed.
To see the full report visit: https://stecf.jrc.ec.europa.eu/reports/economic/