EU fishing fleet profits rebound as Commission projects 2025 recovery, despite uneven results across Member States including Ireland. Photo: CEPESCA
The European Commission’s latest economic assessment of the EU fishing fleet projects a clear recovery in profitability in 2025, after a difficult 2023 marked by falling landings values and rising costs.
Profits Forecast To Surpass Recent Years
According to the 2025 Annual Economic Report on the EU fishing fleet, operating profits are forecast to reach €567 million in 2025. That would exceed the results recorded in both 2023 and 2024, signalling what the Commission describes as a return to healthier economics across the fishing sector.
The report, produced by the Scientific, Technical and Economic Committee for Fisheries and the European Commission, provides confirmed economic data for 2023 alongside projections for 2024 and 2025. In 2023, the EU fleet generated a net profit of just €59 million, a sharp fall of more than 60 per cent compared with 2022, underlining how narrow margins had become.
Fleet Size, Employment And Landings In 2023
The data show that 53,260 EU fishing vessels were active in 2023, employing more than 155,200 people, when unpaid labour is included. The fleet landed approximately 3.39 million tonnes of seafood with a total value of around €6.13 billion.
Despite remaining marginally profitable overall, the EU fleet saw declining landings values, rising inflation-adjusted costs and reduced investment. Total days at sea exceeded 5.2 million, while fuel consumption reached 1.56 billion litres, leaving many operators highly exposed to energy price shocks.
Ireland is specifically named among the Member States that recorded negative net profits in 2023, a reminder that any EU-wide recovery remains uneven and that parts of the fishing community continue to operate at a loss despite headline improvements elsewhere.
Commission Links Recovery To Management And Fuel Trends
European Commissioner for Fisheries and Oceans Costas Kadis said the improving outlook reflected policy choices rather than luck.
“I’m glad to see a positive trend in the EU fleet performance, which is linked to moving in the right direction with sustainable fisheries. Achieving this brings real benefits to the EU fleet and supports our coastal communities.
“When we stick to science-based quotas and let fish stocks recover, we see improvements in the economic health of our fleet and better remuneration for those working in the sector. While these developments are promising, it’s important to remember that challenges remain, and we must continue working together to tackle them and keep our sector thriving.”
Drivers Behind The Improved Outlook
The Commission identifies several factors behind the improved profit projections. Better stock management has increased catch opportunities in some fisheries, while ongoing reductions in fleet capacity mean fewer vessels are competing for available quotas. At the same time, fuel consumption per kilogramme of fish landed has fallen by 11 per cent over the past decade, easing pressure on operating costs.
Lower fuel prices since the energy shocks of 2022 are also a major contributor to the expected recovery. The Commission says further decarbonisation and modernisation will be supported through the Energy Transition Partnership for the fisheries and aquaculture sector.
Structural Problems Remain Unresolved
Despite the positive projections for 2025, the report does not present a uniformly optimistic picture. Structural overcapacity persists in fleets reliant on overexploited stocks, leading to poor financial performance and continued job losses. Much of the EU fleet is ageing, limiting fuel efficiency improvements, while the fishing industry continues to struggle to attract younger entrants due to low wages and uncertain profitability.
The report also highlights sharp regional disparities, with crew pay and vessel profitability closely linked to local stock conditions and management effectiveness.
Policy Implications And Next Steps
The findings will feed directly into the European Commission’s planned Vision 2040 for fisheries and aquaculture, due to be published in 2026 as part of the European Ocean Pact. Whether projected profits translate into long-term resilience for the fishing community remains open to question, particularly for loss-making fleets in countries such as Ireland.
