Accounting for 17 % of the global average per capita intake of animal protein, fisheries products support many people's livelihoods and make a significant contribution to food security. However, the share of stock fished at unsustainable levels has tripled since 1974. Economic losses from the depletion of fish stocks are estimated at US$83 billion. A reduction in fishing capacity and effort would contribute to the recovery of stocks, yet many governments of fishing countries continue to support the sector with harmful fishery subsidies. Subsidies that directly increase fishing capacity and may lead to overfishing are estimated at about US$22 billion worldwide. Although there are no specific global rules on fisheries subsidies, they are currently governed by the World Trade Organization (WTO) Agreement on Subsidies and Countervailing Measures.

EPRS - Phasing out harmful fishery subsidies