Independence also meant that it was less possible to obtain cheap fuel and raw material for processing and production. In this transition period, industrial fisheries and fish processing businesses went through a serious crisis. Nevertheless, since 1994, general conditions for commercial fisheries and fish processing enterprises have improved and the situation has stabilized. At the same time, however, the prospects for ocean fisheries have greatly diminished.
Latvian vessels fish mainly in the economic zone of Mauritania.
Target species are herring, salmon, sea trout, plaice, pike-perch and vimba, which are fished by boats using stationary fishing gears. Latvian fisheries potential includes the fishing fleet operating in the Baltic Sea and in the Riga Gulf. The most important species are bream, roach, pike, pike perch, eel and river lamprey. Commercial and recreational fisheries in inland waters should become more important in the near future. Most of them have one or a few ponds which they stock frequently with fry bought elsewhere.