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Capital value in fisheries : the case of Italy

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  • The EU framework for the collection and management of fisheries data (EU Reg. 1004/2017) requires estimates of four variables related to capital value and capital cost of fishing fleets, i.e. Consumption of fixed capital, Value of physical capital, Value of quota and other fishing rights, Investments in tangible assets. The results of these estimates are, however, heterogeneous as derived from different methods. For example, in case of the physical capital value and related costs, the legislation foresees the application of the Permanent Inventory Method (PIM), whereas gross investments in tangible assets are estimated based on separate surveys which are not always consistent with the capital value. Furthermore, there is no shared methodology regarding the estimation of intangible assets linked to fishing rights such as licenses, which in the Italian case rights cannot be sold separately from the vessel. In this paper we review the methods used in the fisheries sector and in other related sectors for the estimation of capital value and related economic variables. A second methodological part aims to deepen the application aspects and takes into account regional and sectoral specificities (in terms of fishing activities), in order to verify the hypotheses and basic assumptions related to the application of the PIM in the Italian context, and propose alternative approaches.
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  • Vigo, Galicia, Spain
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