Techno-economic performance of marine capture fisheries
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The Fisheries Technical Paper summarises the findings of 15 country level studies on the economic and financial performance of marine capture fisheries conducted in 1999 and 2000. The studies validate the findings of surveys carried out between 1995 and 1997 and published in FAO Fisheries Technical Paper No. 377. Most types of vessels i.e. 92 out of the 108 types of vessels covered by the study or 85 percent showed a net profit after deducting the cost of depreciation and interest. These overall positive results were also achieved because of higher prices paid to producers as compared to the previous study period. There were only few indications that fishing effort had been reduced and fish stocks had recovered. It was also observed that some fishing fleets had adapted themselves to new conditions dictated by depleted and changing abundance of resources and new access to markets in the context of globalisation by changing their fishing operations. Those vessels, which had previously sh own positive results but now incurred losses, were generally older vessels due to the fact that they continued to working on overexploited stocks. Regarding the impact of cost reducing and revenue enhancing Government financial transfers it was found that many fishing vessels, which still received subsidies would also have been profitable without them. In the case of most countries it was observed that no detailed empirical information was available on the amount of Government financial transfer s to the fishing industry nor on the financial performance of individual fishing enterprises.