November 21, 2013

Malta's aquaculture industry growth doubles in 2012

Malta's 2012 aquaculture industry's gross output increased by €58.2 million (US$78.2 million) over 2011.

The gross output of the aquaculture industry, which primarily comprises fish farming, amounted to €108.4 million (US$145.6 million), up by 116.0% from €50.2 million (US$67 million) in 2011. This change was mainly due to an increase of 104.5% in the output of tuna farming.

The gross value added of the aquaculture industry in 2012 amounted to €25.8 million (US$34.6 million), up by 147.0% from €10.4 million (US$14 million) in the preceding year. Taking fixed capital consumption and exchange rate differences into consideration, the factor income increased from €8.7 million (US$11.7 million) in 2011 to €20.8 million (US$28 million) in 2012. Compensation of employees amounted to €3.4 million (US$4.6 million), while entrepreneurial income stood at €16.2 million (US$21.8 million), against €4.7 million (US$6.3 million) in 2011.

The volume of fresh fish sold advanced by 82.7% to 7,440 tonnes. In contrast, the average price per kilogramme of fresh fish sold went down slightly by 0.1%.

Compared to 2011, intermediate consumption (which takes into account the costs incurred in the production of farmed fish) went up by 107.8%. Accounting for this were increases in the value of purchases of live fish and fingerlings, and higher variable production costs of 268.1% and 62.9% respectively. The increase in the variable production costs, accounting for 45.9% of the total intermediate consumption, was mainly due to a rise of 63.6% in the purchase of fish feed.