The European aquaculture sector has fully recovered from its downturn in 2013, selling 1.4 million metric tons of seafood with a combined worth of €4.9 billion in 2016, an EU report has found.
Written by: Undercurrent news.com
The Economic Report of the EU Aquaculture Sector, released on Jan. 3, covers the period from 2008 to 2016.
It details that production has increased by 2.2% yearly by volume and 3.1% yearly by value between 2013 and 2016. In addition, profit doubled over the same four year period to nearly €800m in total earnings before interest, tax, depreciation and amoritization in 2016.
Meanwhile, the report shows that while the total number of employees in the sector has remained stable (73,000), many more are now working full-time, from 36,000 in 2013 to nearly 44,000 in 2016.
Of the three sub-sectors, marine aquaculture generates by far the most revenue in the EU, with €2.7bn in annual turnover. Shellfish is next (€1.13bn) with the turnover from freshwater production not far behind (€1.03bn).
Furthermore, production is dominated by five countries — the United Kingdom, France, Greece, Italy, and Spain — which account for roughly 75% of the EU’s total farmed volume.
For further details, the full report can be read here: