EU fishing sector profits in steady decline
Two new reports by the European Commission show that the EU fishing sector's economic performance has been declining steadily in recent years. The 2010 Annual Economic Report - prepared with the contribution of the JRC's Institute for the Protection and Security of the Citizen (IPSC) - shows that overall, fleet profits declined each year between 2006 and 2008.
The causes of this low economic performance include poor evolution of fish stocks, impacts of fuel prices and fish prices, and the existence of overcapacity in parts of the EU fleet.
A second report, focusing on 2009, shows that that the size of the EU fishing fleet is adapting too slowly to the fishing stock, with an overall reduction in between 2% and 3% on average.