In 2011, the gross output of the aquaculture industry declined by EUR 12.8 million over 2010, the NSO reported.
The gross output of the aquaculture industry, which is comprised of fish farming and other output, amounted to EUR 44.3 million, down by 22.4 percent from EUR 57.1 million in 2010. This decline was mainly due to a 47.6 percent drop in the value of farmed tuna, and in part due to a negative change in stocks of fish.
The gross value added of the aquaculture industry in 2011 amounted to EUR 4.6 million, down by 62.4 percent from EUR 12.2 million in the preceding year. Taking fixed capital consumption and exchange rate differences into consideration, the factor income amounted to EUR 2.8 million, from EUR 13.2 million in 2010. While the compensation of employees amounted to EUR 2.9 million, entrepreneurial income amounted to a EUR 1.2 million drop against EUR 8.6 million in 2010.
During the year under review, the volume of fresh fish sold amounted to 2,954 metric tons, a drop of 57.1 percent over the preceding year. In contrast, the average price of fresh fish sold registered a rise of 27.8 percent. However, this increase was not enough to compensate for the drop in the volume of fresh fish sold as the total value of sales fell by 45.1 percent, from EUR 82.2 million in 2010 to EUR 45.1 million in 2011.
