Aquaculture: 2023
- The total output of farmed fish produced in Malta during 2023 by the aquaculture industry in Malta amounted to €199.7 million; a decline in value of €119.3 million or 37.4 per cent over the output recorded in 2022.
- Intermediate consumption, which sums up most of the operating expenses sustained by the aquaculture industry, totalled €266.8 million; an increase of 11.9 per cent over that measured in 2022.
- The aquaculture industry’s gross value added decreased by €147.8 million, to a negative €67.1 million in 2023.
Aquaculture: 2023
Aquaculture: 2023
The annual census conducted amongst the operators in the local aquaculture and tuna farming industry revealed that, during 2023, the total output produced and marketed through this economic activity dropped by €119.3 million or 37.4 per cent to a total of €199.7 million. On the contrary, the intermediate consumption of the industry, which sums up most of the operating expenses sustained by the same operators, rose by €28.5 million or 11.9 per cent over the amount recorded in the preceding year, to a total of €266.8 million. The combined effect of these shifts resulted in a decrease of €147.8 million in the industry’s gross value added, closing with a negative balance of €67.1 million.
The consumption of fixed assets used in the generation of income by the industry fell slightly by €0.1 million or 1.2 per cent to a total of €4.8 million; while the total wage bill paid on remunerations to their workforce edged upwards by €0.7 million or 5.7 per cent to €12.3 million. As a result, during the reference year, the industry reported a net operating deficit of €84.3 million (Table 1, Charts 1 and 2).
Chart 1. Output and intermediate consumption of the aquaculture industry
€ million
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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 quantity of farmed fish rose by 2.8 million kilogrammes or 15.4 per cent to a total of 20.8 million kilogrammes. Indeed, this increase was the result of a higher volume of farmed tuna of 2.8 million kilogrammes that completely offset the negligible drop recorded in farmed closed cycle fish species. Nevertheless, when compared to the previous year, the total marketed value of farmed fish declined by €121.3 million or 37.9 per cent to a figure of €199.1 million (Table 2, Chart 3).
Chart 3. Distribution of sales by fish species and year
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Regarding the costs and expenses incurred by the industry, the purchasing of live tuna and other fish for fattening increased by €21.8 million or 16.6 per cent to a total of €152.7 million. Indeed, when compared to a share of 54.9 per cent registered in 2022, the latter expense grew to 57.2 per cent of the entire intermediate consumption incurred by the industry in 2023. Moreover, the industry’s variable production costs increased by 14.6 per cent to €87.5 million, while the selling costs and overheads costs fell by 18.9 per cent and 13.4 per cent to a total of €4.6 million and €22.0 million respectively (Table 3, Chart 4).
Chart 4. Distribution of intermediate consumption by type and year
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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 Aquatic Resources Malta amongst the entities that are 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.
● Operating surplus is the surplus arising from production after allowing for intermediate consumption and compensation of employees.
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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Statistical concepts
8. References to this news release are to be cited appropriately.
9. A detailed news release calendar is available online.
