The 2012 Annual Economic Report (AER) on the European Union (EU) fishing fleet provides a comprehensive overview of the latest information available on the structure and economic performance of EU Member States fishing fleets. Results suggest that the total amount of income generated by the EU fishing fleet in 2010 (excluding Greece) was €7 billion. The EU fleet moved from a loss making position to a profitable position in 2010. The total amount of Gross Value Added (GVA), Operating cash flow (OCF) and economic profit/loss generated by the EU fishing fleet in 2010 was €3.4 billion (5.7% increase from 2009), €1.2 billion (39.5% increase from 2009) and €288 million (an increase of over €300 million from 2009) respectively. Profitability indicators - GVA, gross profit and net profit as a proportion of total income - all show improvement from 2009 results. GVA as a proportion of total income has increased steadily from 42% in 2008 to 47% in 2009 to 49% in 2010. Gross profit as a proportion of total income increased from 13% in 2009 to 18% in 2010. Net profit as a proportion of total income increased from negative 0.4% in 2009 to 4% in 2010. Analysis of economic performance by Member State reveals a mixed picture in 2010. 11 out of 21 Member States generated a net profit in 2010, compared to 12 out of 21 in 2009. The data suggest that only 4 Member States produced a negative gross profit in 2010
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