Marine living resources

In 2022, household expenditure on fishery and aquaculture products in the EU reached EUR 62.9 billion, marking an 11%-increase from 2021. The average consumption per capita is estimated at 23.71 kg (measured in live weight equivalents) of fishery and aquaculture products in 2021, which represented a 2% increase from 2020⁵. Most EU consumption of fishery and aquaculture products consists of wild products (about 70%) and, more specifically, of imported fishery products. 

The EU’s self-sufficiency is estimated to have reached its lowest level with 38.2% in 2021⁶. Self-sufficiency is the capacity of EU Member States to meet their citizen’s demand for seafood from their own production. Hence, the EU is able to maintain its consumption of fishery and aquaculture products by importing them from other regions of the world. 

In the EU, the fish processing industry strongly relies on imports from third countries: salmon and cod from Norway and the UK, Alaska pollock from China, shrimp from South and Central America and South-East Asia, sardines from Morocco, squid, tropical tuna, etc. 

In 2022, a substantial growth in  the value of extra-EU imports was reported. It could not be solely attributed to the consequences of the Covid-19 pandemic recovery, which led to sudden spikes in demand and increases in prices; it was also a consequence of lower domestic supply contributing to an increase in prices, which was due to the effect of lower quotas for a number of species and tightened competition on raw materials. Moreover, the Russian military invasion of Ukraine heavily contributed to the rise in value, affecting energy costs, and in turn production costs. In fact, it has been estimated that every 10 cents increase in the fuel price per litre would lead to a profitability loss of around €185 million in the EU fishing fleet⁷.

The Russian aggression also had a significant impact on exchange rates, which played a role in the increase in prices and overall values, affecting trade between countries on a global scale. In 2023, however, inflation was lower, whereas the imports kept on tightening, resulting in more stable prices and values.

High energy prices have affected the sector. Prices of raw materials such as soy, fishmeal and oil have also been impacted by the conflict, driving up overall prices in Marine living resources’ related industries, such as aquaculture⁸.

In 2023, the Commission presented a fisheries and oceans package⁹ which includes four initiatives. The main objectives of the measures are to promote the use of cleaner energy sources and reduce dependency on fossil fuels, as well as reduce the sector’s impact on marine ecosystems. This package includes the Communication on the Energy Transition of the EU Fisheries and Aquaculture sector (See Section on energy transition) with measures to improve its sustainability and resilience.

In the framework of the Communication on the Energy Transition, the Commission has released a dashboard on the EU Blue Economy Observatory, aimed at measuring the incremental impact of fuel prices on the economic performance of the EU fishing sector. Another key action in this area was the set-up of the Energy Transition Partnership, which was launched in 2023 and supported by a number of thematic workshops. These workshops will feed into the development of a common roadmap for the energy transition in EU fisheries and aquaculture.

Another important policy development has been the entry into force of the new EU Fisheries Control Regulation¹⁰. This revised EU fisheries control regulation updates most of the rules for fishing vessels to modern technology and promotes sustainability. The key changes involve enhanced monitoring of fishing activities, better traceability of catches and harmonised sanctions for rule violations. These revised rules modernise the way fishing activities are controlled for EU vessels and for non-EU vessels fishing in EU waters. They aim to prevent overfishing, create a more efficient and unified fisheries control system, and promote fairness among different sea basins and fleets.

In 2021, the EU fishing fleet numbered 54 213 active vessels, offering direct employment to almost 122 thousand persons, with an average annual remuneration of slightly more than €26 000. The EU fleet consumed 1.81 billion litres of fuel to land 3.56 million tonnes of seafood with a reported value of EUR 6 billion. The Gross Value Added (GVA) and gross profit (all excl. subsidies and fishing rights) were estimated at €3.3 billion and €1.19 billion, respectively¹¹.