BIM Annual Fisheries Report based on findings of National Seafood Survey 2024 Published

Based on the fishing activity of 1,318 active vessels, the report showed that revenue of the Irish fleet decreased by -10% to €311.8 million in 2022. Gross Value Added (GVA) at €137.5 million decreased by -30%, and gross profit at €17 million decreased by -82%. While this fall was partially offset by €23.9 million in operating subsidies financed under the Brexit Adjustment Reserve (BAR) and the European Maritime, Fisheries and Aquaculture Fund (EMFAF), it is not factored into the revenue and gross profit calculations for 2022.  

Dr Sarah Perry, BIM National Seafood Survey Coordinator, said the report findings are based on economic data for 2022 provided by vessel owners from the National Seafood Survey which showed geopolitical issues continued to negatively affect the sector. 

“The BIM Annual Fisheries Report shows that 2022 brought huge challenges for the fishing industry as it grappled with disruption caused by the conflict in Ukraine and the fallout from Brexit including high fuel prices, inflation and reduced quotas,” Dr Perry said. 

“The highest ever response from vessel owners to the last National Seafood Survey helped BIM to gain valuable insights into the impacts these challenges had on the economic performance of the fleet at a national and segment level as outlined in the report. 

“BIM relies on vessel owners for their consistent support and goodwill to complete the survey so we can capture an accurate picture of the catching sector. We want to thank each vessel owner who took the time to participate in this survey.” 

In 2022, the fleet landed over 175,800 tonnes valued at €287 million representing decreases of -15% in live weight and -12% in landed value compared to 2021.  

The fishing industry is a significant employer in rural coastal communities. In 2022, it contributed to an estimated 2,687 jobs corresponding to 1,745 full-time equivalents (FTEs). This indicates the industry’s significant impact on job creation and its contribution to the overall economy.  

Forecasts for 2023 demonstrate an improved economic performance compared to 2022, whilst preliminary forecasts for 2024 suggest a further improvement in economic performance compared to 2023. This is driven by an overall reduction in operating costs despite a predicted decrease in landings by weight and value compared to 2023.  

BIM launches the next National Seafood Survey for Fisheries on 30 September 2024 and vessel owners are being asked to provide their information for 2023.  

“Results of the annual survey help industry and policy makers to examine the current challenges impacting the industry, understand the challenges and opportunities they face, as well as the impact of fisheries management measures,” Dr Perry said. 

The survey returns also form the basis for the justification of national and EU grant aid programmes, focused on supporting the industry and coastal communities, under the Common Fisheries Policy. 

The full report is available by visiting bim.ie.