Social and Economic Contributions

Economic Contribution of Tasmanian’s Fishery and Aquaculture Sectors

Tasmania’s commercial fisheries and aquaculture generate economic contributions to the Tasmanian economy through their production activities.

Economic contribution is estimated using the following standard measures: Gross Value Added (GVA), Employment, and Household income generate by each sector to the Tasmanian economy1

GVA represents the value of all goods and services produced in an industry, minus the cost of all inputs and raw materials consumed to produce those products and provides a measure of the net contribution of an activity to the economy (excluding net taxes). Household income represents wages and salaries paid in cash and in kind, drawings by owner operators and other payments to labour.

Estimates are available for six (6) fishery and aquaculture production sectors for Tasmanian economy for the 2018/19 financial year, as shown in the following table:

Gross Value Added – Total ($m)$649.6m $34.7m$7.0m $80.8m$100.4m$5.3m
Direct GVA ($m) $230.3m $19.7m$3.3m$66.7m$66.4m$2.5m
Indirect GVA ($m) $419.3m $15.0m$3.7m$14.2m$34.0m$2.8m
Household Income – Total ($m) $361.7m $18.6m$4.2m$15.8m$38.9m $3.5m
Direct HI ($m) $122.5m $10.5m$2.2m $7.5m $18.9m$1.9m
Indirect HI ($m) $239.2m $8.2m $2.0m $8.3m$20.0m$1.6m
Employment – Total (FTE) 4,895m 36468 191539119
Direct FTE 1,812 258 43 85 28798
Indirect FTE 3,084 107 25 106 252 21

Estimates are reported for direct contribution, indirect (flow-on) contribution, and total contribution (the sum of direct and indirect contribution).

The direct effects arise from the initial spending of an industry sector into the other sectors of the Tasmanian economy. This includes the spending on wages (paid to employees) and the purchase of inputs (fuel, bait, fish feed etc.).

The indirect effects then arise from the re-spending of this money by households (the consumption induced indirect effect) or by businesses (the production induced indirect effect).  

In the case of GVA and Household Income, results are shown for directproduction induced, and consumption induced components. For Employed Persons, results are shown for direct and total indirect. The total indirect effect is the sum of the consumption and production induced components.

For full details see IMAS technical report Tasmanian Fisheries and Aquaculture Industry 2018/19 Economic Contributions:

  • A link to the detailed IMAS Technical Report is available: here
  • A link to the Summary Report (containing key results and findings) is available: here

Note: these estimates were prepared prior to the SARS-CoV-2 (COVID-19) virus and the emergence of trade disruptions. These results provide a baseline for each fishery and aquaculture sector against which future changes can be monitored and measured over time. The results do not include activities classified within the ‘seafood processing’ sector for the 2018/19 year.

1The input-output modelling was provided by BDO EconSearch (ABN 74 161 378 892) using economic profiles and analysis provided by IMAS.

Learn more about the economic contribution of Tasmanian’s fishery and aquaculture sectors here: