Subtask 3b

Subtask 3b

Analysis of the impacts of recent variations in fuel price on fisheries economic performance

SubTask leader

Partners involved

The time series data collected under Subtask 3a will be analysed with a focus on the socioeconomic impact of fuel price variations observed in recent years. Undoubtedly, factors such as the COVID-19 pandemic, the global oil price shock, and the war in Ukraine have directly or indirectly influenced fuel prices in the fishing sector, threatening its economic sustainability and resilience. 

The analysis of historical data is aimed to highlight the fluctuations in fuel price and measure their impacts on fisheries socio-economic performance and in the overall socioeconomic sustainability and resilience of the sector. 

The data analysis, which will be carried out for each fleet segment defined under Task 2, will be complemented by the qualitative inputs collected under the literature review (Task 1) and the Subtask 3a through the involvement of MEDAC and BISAC stakeholders. This qualitative information is expected to highlight eventual solutions adopted by the fishing sector to mitigate the negative effects of the increases in fuel price. 

The analysis will not only focus on the profitability but will expand to cover various socioeconomic indicators such as the Gross Value Added (that reveal the contribution of the sector to the MS GDP) and labour productivity which is a key measure of economic efficiency and a measure of fishers’ prosperity. 

The Subtask 3b will provide a description of the socioeconomic performance for each fleet segment included in the list of pilot studies defined under Task 2. The outcomes of the subtask will be transmitted to Subtask 3d to be integrated in the bio-economic modelling.