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Business Statistics, Food Industries
Kim Normark Andersen
+45 3917 3383

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Account Statistics for Fishery

The Account Statistics for Fishery is prepared using the same overall principles as the account statistics for agriculture, horticulture and aquaculture.

The statistics has been prepared yearly since 1996. Break in series occurs in 2001 due to inclusion of unpaid salary to active (working) partners, and in 2009 and again 2012 due to improved calculation of the capital value of fishing rights.

Comparability - geographical

The Account Statistic for Fishery is the basic for the yearly ”Fleet Economic Report” sent to Joint Research Center (EU). The reported statistics for all Member States fishing fleets is available on STECF’s web-page: Fleet Economic Performance

The Scientific, Technical and Economic Committee for Fisheries (STECF) publish the statistics in ”The Annual Economic Report on the EU Fishing Fleet”. The statistics published by STECF cannot be compared directly with the Danish national statistics. Variables in the EU statistics are more aggregated, and the statistical groups (vessel segments) are different from the Danish statistics, furthermore the EU Fleet statistics include units with revenue below the yearly threshold.

Comparability over time

The Account Statistics for Fishery has been prepared yearly since 2001 grouped by vessel segments. For the years 1996 to 2000 the statistics were presented on vessel categories and main production (species) groups.

There is a break in series between 2000 and 2001 due to a change in calculation method. Until 2000 the salary to partners was handled as a cost and subtracted from the profit and the partners ownership share was taken out of the Net capital, but from 2001 are both partners shares included in the Net capital for the firm/production unit, and in the private owner fishing firms are remuneration to both owners included in the operating profit.

Break in series according to improved method for calculation of capital value of fishing rights. From 2009 the capital value of Vessel Quota Shares (VQS) has been calculated based on the registered quota quantity at the end of the year for all owners of fishing rights in the sample using a calculated shadow price. The shadow price for a quota species have been calculated as the marginal augment in contribution margin caused by a one kilo increase in the total yearly landings of that species for a vessel. The contribution margin has been calculated for a 16 year period using a 7 per cent discount rate. Until 2016 the calculation was performed for an 8 year period, which by then was the guarantee period for the quota management system.

From 2012 these calculations have been performed for each fishing firm in the population contrary to the years 2009-2011, where the calculation only was performed for the accounts in the sample, which afterwards were weighted for each of the statistical groups.

All accounts for 2012, both reported and simulated, have the reported values of Individual Transferable Quotas (ITQ) and VQS fishing rights has been replaced with the calculated capital values for the beginning of the year, and the difference between reported and computed capital values are balanced out against adjustment in Net capital (Own equity) and deferred tax.

Coherence - cross domain

The Account Statistics for Fishery is based on the same principles as the Account Statistics for Agriculture and Horticulture.

Coherence - internal

An important task of the data management is to ensure consistence between firms/vessel units in the reported accounts and the units based on the register entities (owners, vessel versions and production data)). Consistency is completed either by adjusting the register based units to the real units in the accounts, or to split up accounts for big fishing firms into vessel unit accounts.