NSO Malta | Aquaculture: 2022

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Aquaculture: 2022

NR205/2023

Release Date: 16 November 2023

The total output of farmed fish produced by the aquaculture and tuna farming industry in Malta during 2022 amounted to €319.4 million; an increase of 40.7 per cent over that recorded in 2021.

The annual census conducted amongst entities operating in the local aquaculture and tuna farming industry revealed that, during 2022, the total output generated by this economic activity grew by €92.4 million or 40.7 per cent over that recorded in 2021 to a figure of €319.4 million. Additionally, the intermediate consumption of the industry, which represents the main operating expenses incurred by the same operators, rose by €91.1 million or 61.8 per cent over that recorded a year before to a total of €238.4 million. This led the industry’s gross value added to marginally increase by 1.7 per cent to €81.0 million.

The depreciation of fixed capital of the industry fell slightly by €0.2 million or 4.8 per cent to a total of €4.9 million; while the total outlays disbursed on the wages and salaries paid to their employees edged upwards by €1.0 million or 9.9 per cent to €11.7 million. Upon subtracting the expenses from its revenues, the industry is calculated to have attained a net operating surplus of €64.4 million (Table 1, Charts 1 and 2).

Chart 1. Output and intermediate consumption of the aquaculture industry

€ million

Note: The gap in between the lines represents the Gross Value Added.

Chart 2. Percentage distribution of selected aquaculture output

Note: Due to fluctuating totals, changes in stocks are being excluded from the aggregated output.

In terms of weight, the total sales of farmed fish increased by 1.6 million kilogrammes or 10.0 per cent over that achieved in 2021. Indeed, this increase was the result of an increase in the volume of farmed tuna of 2.3 million kilogrammes that completely offset a fall of 0.6 million kilogrammes of farmed closed cycle fish species. As a result, when compared to the previous year, the total sales value of farmed fish rose by €110.2 million or 52.4 per cent to a figure of €320.4 million (Table 2, Chart 3).

Chart 3. Distribution of sales by fish species and year

As regards the expenditure costs borne by the industry, it resulted that the purchasing of live tuna and other fish for farming purposes increased significantly by €66.7 million or 103.8 per cent to a total of €130.9 million. In fact, when compared to a share of 43.6 per cent registered in 2021, the latter expense accounted for 54.9 per cent of the entire intermediate consumption incurred by the industry in 2022. Moreover, the industry’s variable production costs, selling costs and overheads increased by 26.3 per cent, 15.8 per cent and 43.4 per cent respectively (Table 3, Chart 4).

Chart 4. Distribution of intermediate consumption by type and year

Tables

Table 1. Value added of the aquaculture industry by year

Table 2. Sales and purchases of fish of the aquaculture industry by year, weight and value

Table 3. Intermediate consumption of the aquaculture industry by year and type of expenditure

All Tables

Methodological Notes

1. The objective of this news release is to provide a complete overview of the structure, output and intermediate consumption registered by the aquaculture industry in MALTA through statistical data that is administratively collected via a yearly census conducted by the Department of Fisheries and Aquaculture entity amongst the operating fish farms.

2. The collected data is collated in line with Regulation (EC) No 762/2008 of the European Parliament and of the Council of 9 July 2008 regarding the submission by each Member State of statistics on aquaculture (thus repealing Council Regulation (EC) No 788/96 of 22 April 1996) and with Appendix X of the Commission Decision (2010/93/EU) of the 18 December 2009.

3. The data in this release is collected by means of a detailed census carried out amongst all the registered fish farms. Each fish farm is asked by the administrative source to submit information regarding their yearly structures and the economic and financial activity. The data consists essentially of the number, surface area and volume of cages utilised by the fish farm, the purchases and sales of fish in weight and in value recorded by the entity, the opening and closing valuation of stocks held for the year, the expenses incurred in the production of farmed fish and the total assets and liabilities (starting as from the year 2020) of the same fish farms. All the operating fish farms surveyed for this year’s census cooperated and responded to the requested statistics.

4. The figures reported in this publication (including the latest statistics) are subject to any revision/s that the Office may consider as necessary.

5. Definitions:

● The aquaculture industry, which is entirely dependent on marine resources, has two sectors:

– tuna farming which relies on captured wild Tuna fish and is referred to as “capture-based species” (CBS); and
– the farming of “closed cycle species” (CCS) such as Gilthead seabream, European seabass, Meagre and Amberjack that are cultured from eggs produced in hatcheries.

● Change in stocks is the difference between the closing stock of the various species as at 31 December and the relative opening stock as at 1 January of the year under review.

● Intermediate consumption represents the value of almost all goods and services used as inputs in the production process with the exception of some specific items which, by methodology, are necessarily classified elsewhere.

● Gross value added of the aquaculture industry is the value of output less the intermediate consumption.

● Consumption of fixed capital is the decline in value of fixed assets owned as a result of normal wear and tear and obsolescence sustained during an accounting period.

● Compensation of employees is the total remuneration, in cash or in kind, payable by an employer to an employee in return for work done by the latter during an accounting period.

6. MALTA encompasses the regions of Malta, and Gozo and Comino.

7. More information relating to this news release may be accessed at:

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8. References to this news release are to be cited appropriately.

9. A detailed news release calendar is available online.