Socio-economic analysis of fisheries is needed to inform policy interventions to maximize their economic and social benefits, while minimizing their environmental and ecological impacts. Socio-economic data are therefore collected to assess:

• Economic performance and cost structure 
• Livelihoods and employment
• Profitability
• Levels of investments, debts and subsidies
• Activity levels
• Demographics and ownership structures. 

This information contributes to improved knowledge about the role of fisheries in food security, livelihoods and coastal community development, and facilitates their economically and ecologically efficient management.  

The GFCM had recognized that a lack of accurate, timely and complete socio-economic baseline data on fisheries in the Mediterranean and Black Sea region was a main barrier to the provision of effective management advice, so in its Mid-term strategy (2017–2020) towards the sustainability of Mediterranean and Black Sea fisheries it called for a comprehensive survey on the socio-economic characteristics of regional fisheries, based on a harmonized data collection methodology.