The economic performance of the EU fishing fleet during the COVID-19 pandemic

• Published in: Aquatic Living Resources
• Main Authors: Carpenter Griffin, Carvalho Natacha, Guillen Jordi, Prellezo Raúl, Villasante Sebastián, Andersen Jesper L., Mravlje Edo Avdic, Berkenhagen Jörg, Brigaudeau Cecile, Burke Brian, Santos Angel Calvo, Cano Suzana, Contini Franca, Da-Rocha José-María, Davidjuka Irina, Martínez Francisco Manuel Fernández, Fontaneda-López Ignacio, Gambino Monica, Caballero Elena Garcia, Guyader Olivier, Herring Jeppe, Hoekstra Geert, Ioannou Myrto, Jackson Emmet, Jung Armelle, Kazlauskas Edvardas, Keatinge Michael, Kuzebski Emil, Leonardi Sophie, Le Grand Christelle, Lees Janek, Mancebo-Robledo Carmen Margarita, Minne Marie-Dominique, Mol Arie, Quintana Marta Moran, Nicheva Simona, Pokki Heidi, Do Ó João Ramos, Rodríguez Alexandre, Sabatella Rosaria Felicità, Sciberras Andrew, Souffez Arnaud, Stroie Constantin, Swahnberg Hanna, Tzouramani Irene, Viana Maria Valiente, Verlé Katrien, Virtanen Jarno, Vukov Ivana, Zhelev Kolyo
• Format: Article in Journal/Newspaper
• Language: English
• Published: EDP Sciences 2023
• Subjects: covid-19; fisheries; economic impact; european union; Aquaculture. Fisheries. Angling; SH1-691; Northeast Atlantic
• Online Access: https://doi.org/10.1051/alr/2022022; https://doaj.org/article/31dc839d4f084ecca32ed1864d9f98b8

The COVID-19 outbreak and subsequent public health interventions have depressed demand and disrupted supply chains for many fishing businesses. This paper provides an analysis of the COVID-19 impacts on the profitability of the EU fishing fleets. Nowcasting techniques were used to estimate the impact of the COVID-19 pandemic on the economic performance for the EU fishing fleet in 2020 and 2021. Our results show that the economic impact of COVID-19 on this sector was smaller than initially expected and overall profits remained positive. This was in part due to low fuel prices that reduced operating costs of fishing, and the early response from governments to support the sector. The results vary by fishing fleet, revealing that small-scale fleets and the fleets in the Mediterranean and Black seas have been more impacted than large-scale fleets and the fleets in the Northeast Atlantic.