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World Wide Catalog 1995 Summer
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1995-06-11
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VALUE ADDED
The value added table reflects changes in the value of fishery
products from year to year, using measures such as mark-up, value
added as a percent of mark-up, and sales of fishery products in
each sector (1). Using a model developed for Fisheries of the
U.S. in 1987, the value added table has been updated each year
to incorporate changes in the annual quantity and value of
landings, and in imports and exports of several species. These
annual updates allow partial re-estimation of the mark-ups, value
added, and sales of each sector.
Complete re-estimation of the annual mark-ups and value added
requires secondary information such as average revenues and costs
of operation for businesses involved in the processing,
wholesaling, or retailing of fishery products. The revenue and
cost data needed to estimate mark-ups in each sector are only
published once every five years. In addition, there is a two-year
lag between the collection and publication of this data. Thus,
the margins estimated in the value added tables from 1987 through
1991 are based on 1985 financial data which became available in
1987.
The 1992 value added table incorporates newly available 1990
financial data, as well as 1992 fisheries data, to re-estimate
the mark-up of fishery products at each market level. Therefore,
the estimated 1992 mark-ups and value added in each sector
reflect the annual change in fisheries activity as well as
changes in the economy as a whole since 1987.
To differentiate between the effects of changes in the economy
versus changes in fishing activity, the 1992 model was estimated
using both the 1985 and the 1990 financial data. The effects of
the updated financial data are an increase of 11.8 percent in the
estimated 1992 total U.S. value added activity and a 31.5 percent
increase in estimated consumer expenditures.
Incorporation of new financial information indicates that in
every sector the mark-up of fishery inputs has increased while
the value added as a percent of total mark-up has decreased.
This suggests that harvesters, processors, wholesalers, and
retailers are paying more for purchased inputs and are charging
more for the transformed fishery product, while not paying
significantly more for the components of value added.
It is anticipated that the model upon which the value added table
is based will be revised every five years to make use of the
periodic update of revenue and cost data. The financial data
used to estimate margins and value added in the 1992 value added
table will be used until 1997, when 1995 data becomes available.