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Malta Experiences Growth in Aquaculture Sector

Tuna Sustainability Economics +5 more

MALTA - In 2014, the gross output of the Maltese aquaculture industry increased by 3.2 million over 2013.

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The gross output of the aquaculture industry, which comprises mainly of tuna farming and closed cycle species, amounted to €101.2 million, up by 3.2 per cent from €98.1 million in 2013.

The gross value added of the aquaculture industry in 2014 amounted to €17.6 million, up by 111.5 per cent from €8.3 million in the preceding year.

Taking fixed capital consumption and exchange rate differences into consideration, the factor income amounted to €20.9 million. Compensation of employees amounted to €3.5 million, while entrepreneurial income stood at €16.2 million.

During the year under review, the volume of fresh fish sold amounted to 8,606 tonnes, a decrease of 5.2 per cent over the preceding year. This was mainly due to a drop in sales of tuna by 11.0 per cent, while sea bass and sea bream increased by 49.0 and 6.0 per cent respectively.

When compared to 2013, intermediate consumption which takes into account the costs incurred in the production of tuna farming and closed cycle species, declined by 6.9 per cent. This resulted from drops in purchases of live tuna and other fish and in variable production costs by 11.4 and 10.4 per cent respectively.