Australian fisheries economic indicators report 2014: Financial and economic performance of the Eastern Tuna and Billfish Fishery

The Australian fisheries economic indicators report expands on and takes the place of the long running ABARES Australian fisheries surveys report. The information and analysis contained in these reports are accessed by policy makers, managers, researchers and industry.

Alongside the usual detailed information about the financial performance of the average vessel and the overall economic performance of the fishery, this report also provides analysis of additional economic indicators for the Eastern Tuna and Billfish Fishery (ETBF). The construction of these indicators draw upon the data collected through the fisheries survey program. Together with the financial and economic performance information, these indicators help to form a comprehensive picture of the economic performance of the ETBF over a number of years.

This report presents results of the 2014 Eastern Tuna and Billfish Fishery survey, comprising survey based estimates of financial and economic performance for the 2011-12 and 2012-13 financial years, as well as non-survey based estimates of economic performance for the fishery in the 2013-14 financial year. Other indicators presented in the report include the productivity index, input costs and output prices and management costs.

Key issues
• Profit at full equity, a profit indicator that assumes all assets are fully owned by operators, for the average ETBF operator was positive in 2011-12 and 2012-13, but declined for the average boat in the fishery from $139 612 to $86 492. • The decline in profit at full equity is primarily attributable to higher total cash costs, driven by increased spending on fuel. • Net economic returns (including management costs) for the fishery fell from $2.9 million in 2011-12 to $0.2 million in 2012-13. • Lower net economic returns in 2012-13 were mainly a result of a larger decline in fishing income relative to falling fishing costs, reflecting less vessels operating in the fishery in 2012-13. • In 2013-14 the preliminary net economic returns were estimated to fall further to $0.1 million. The estimated slight reduction in net economic returns in 2013-14 is mostly driven by higher operating costs and a relatively small increase in fishing income.