The Fishery Value Chain Analysis in Taiwan

Although the GDP of the fishery sector accounts for less than 0.3% of Taiwan’s GDP, there are many secondary and tertiary industries related to fisheries that add great value to the country’s economy. Therefore, when analyzing and calculating the output value and value added of the fishery sector, the relevance of these upstream and downstream industries should be considered jointly, and the value chain of the fishery industry should be studied and analyzed in order to truly present the value added created by fishery. This study aims to do this by first analyzing not only the primary fishery industry, but the value chain of the fishery industry at different stages such as fishery production, marine fishing, aquaculture, fishery processing, retail and services, and supportive systems. Then the value added of the whole fishery value chain to Taiwan’s GDP is estimated by using the Leontief input–output model, from the perspective of industry linkages and covering the period from 2011 to 2018. The empirical results suggest that the value added created by fishery and related industries accounted for 2.96% of the GDP in 2011, which rose to 3.11% in 2014, fell to 2.87% in 2015, rose to 2.93% in 2017, and fell to 2.84% in 2018. From 2011 to 2018, the amount of value added created by fisheries and related industries rose from NT$ 422.8 billion to NT$ 520.9 billion. The primary fishery sector has the largest contribution, followed by the fishery input sector, and transportation and sale service sector, and the fishery product processing sector has the lowest contribution rate. The empirical results provide important implications and references to the policy makers.


Introduction
In the past 10 years, Taiwan's fishery GDP accounted for 14% to 21% of all agriculture, forestry, fishery, and animal husbandry, which is higher than both animal husbandry and forestry. It is one of the country's most important domestic agricultural industries. Even though both the shares of agriculture and fishery sector have been declining along with the structural transformation of Taiwan's economy, the non-economic function of fishery is increasingly important in terms of food security and ecological balance. It cannot be replaced by other sectors such that the importance of fishery sector cannot be measured only by its production value [1][2][3][4][5].
The idea of "sixth industrialization" proposed by Imamura in 1998 [6] states that jointly utilizing agriculture, food processing, and retail to create new products and services would increase their consumptions and value added, where the primary agricultural production is the basis of the "sixth level". That is, the additional value will not be realized if the economy only meets the needs of industrialization to the exclusion of the primary agricultural production. The same idea is also applicable to the fishery sector and its related industries.

The Value Chain of Taiwan's Fishery Industry
The value chain was proposed by Michael Porter (1985) in his book "The value chain and competitive advantage" [7]. In this book, Porter pointed out that if a company wants to develop its unique competitive advantages, or create higher value added for shareholders, the strategy is to examine the business model of an enterprise and decompose the model into a series of value creation processes. The connection of this process is what is called the value chain ( Figure 1). chain, channel value chains, and buyer value chains (Figure 1), become the value sys or industry chain. Within the fishery industry, the value chain system mainly inclu primary production of marine capture fishery, aquaculture fishery, primary aquatic pr uct processing, secondary aquatic product processing, and tertiary industrial retail service industries (Figure 2). See the figures below: Figure 1. The value chain-a series of process in which a company develops its unique compet advantages. Source: [7].

Marine Capture Fisheries
Marine capture fisheries can be roughly divided into pelagic (or, distant) fishe and coastal fisheries. The pelagic fisheries equipment mainly consists of bonito and t seine, tuna longline, squid and saury stick nets, and trawl nets. Coastal fisheries incl fire traps, small and medium trawls, tuna purses, gill nets, mackerel seines, longline f ing for sea bream and trash fish, fixed nets, one fishing, etc. (Figure 3). The value chain-a series of process in which a company develops its unique competitive advantages. Source: [7].
The common value chain of enterprises is typically divided into primary activities and supporting activities. The former is the company's main production and sales procedures, including: inbound logistics, manufacturing operations, outbound logistics, marketing, and after-sales services, etc. The support activities can be regarded as other business operation links of a company supporting main business activities, or so-called joint operation links, including enterprise infrastructure, human resource management, technological development and procurement, etc. The value chain described above is considered from the perspective of individual companies. However, the industrial loops in which different companies are connected, such as the supplier value chain, firm value chain, channel value chains, and buyer value chains (Figure 1), become the value system or industry chain. Within the fishery industry, the value chain system mainly includes primary production of marine capture fishery, aquaculture fishery, primary aquatic product processing, secondary aquatic product processing, and tertiary industrial retail and service industries ( Figure 2). See the figures below: Fishes 2022, 7, x FOR PEER REVIEW 3 of 29 chain, channel value chains, and buyer value chains (Figure 1), become the value system or industry chain. Within the fishery industry, the value chain system mainly includes primary production of marine capture fishery, aquaculture fishery, primary aquatic product processing, secondary aquatic product processing, and tertiary industrial retail and service industries ( Figure 2). See the figures below: Figure 1. The value chain-a series of process in which a company develops its unique competitive advantages. Source: [7].

Marine Capture Fisheries
Marine capture fisheries can be roughly divided into pelagic (or, distant) fisheries and coastal fisheries. The pelagic fisheries equipment mainly consists of bonito and tuna seine, tuna longline, squid and saury stick nets, and trawl nets. Coastal fisheries include fire traps, small and medium trawls, tuna purses, gill nets, mackerel seines, longline fishing for sea bream and trash fish, fixed nets, one fishing, etc. (Figure 3).

Marine Capture Fisheries
Marine capture fisheries can be roughly divided into pelagic (or, distant) fisheries and coastal fisheries. The pelagic fisheries equipment mainly consists of bonito and tuna seine, tuna longline, squid and saury stick nets, and trawl nets. Coastal fisheries include fire traps, small and medium trawls, tuna purses, gill nets, mackerel seines, longline fishing for sea bream and trash fish, fixed nets, one fishing, etc. (Figure 3).  . Fishbone diagram of fishery production (including 3 major sectors: distant, coastal, and aquaculture fishery, and many sub-sectors under each major sector.). Source: summarization of this study's points.

Aquatic Products Processing Industry
Aquatic products processing can be divided into primary processing and secondary processing. Primary processing is mainly the processing of aquatic food products, and secondary processing includes the processing of aquatic food products, aquatic industrial products, aquatic agricultural products, and aquatic medicinal products ( Figure 4). This section mainly discusses the distribution and operating status of Taiwan's aquatic product processing plants based on the statistical data of the Fisheries Annual Report. The data analyze the current status of certification and implementation of the aquatic product processing industry, as well as the import and export status of aquatic product trade. The socalled "aquatic product processing industry" in this study includes fish, shrimp, crab, crustaceans, and other aquatic food processing and processing industries, including canning, freezing, processing, etc. . Fishbone diagram of fishery production (including 3 major sectors: distant, coastal, and aquaculture fishery, and many sub-sectors under each major sector.). Source: summarization of this study's points.

Aquatic Products Processing Industry
Aquatic products processing can be divided into primary processing and secondary processing. Primary processing is mainly the processing of aquatic food products, and secondary processing includes the processing of aquatic food products, aquatic industrial products, aquatic agricultural products, and aquatic medicinal products ( Figure 4). This section mainly discusses the distribution and operating status of Taiwan's aquatic product processing plants based on the statistical data of the Fisheries Annual Report. The data analyze the current status of certification and implementation of the aquatic product processing industry, as well as the import and export status of aquatic product trade. The so-called "aquatic product processing industry" in this study includes fish, shrimp, crab, crustaceans, and other aquatic food processing and processing industries, including canning, freezing, processing, etc.

Retail Industry and Service Industry
The retail and service industries mainly include storage and transportation, mark ing, after-sales service, and recreational fisheries ( Figure 5). At present, due to the lack

Retail Industry and Service Industry
The retail and service industries mainly include storage and transportation, marketing, after-sales service, and recreational fisheries ( Figure 5). At present, due to the lack of domestic information on storage and transportation, after-sales service, and some marketing, only aquatic product trade and recreational fisheries are described as follows: Fishes 2022, 7, x FOR PEER REVIEW

Support Activities
Support activities can be regarded as the operating environment of other enter

Support Activities
Support activities can be regarded as the operating environment of other enterprises which support the main operating activities of an enterprise, or what is known as the joint operation link. Support activities include procurement (activities to obtain various input factors, including negotiating with suppliers, collecting relevant information, and seeking sources of various input factors), technology research and development (products and process development and improvement activities), human resource management (personnel recruitment, hiring, training, development and welfare allowances, and other management activities), the basic facilities of the enterprise (office software and hardware, fishing boats, fishing gear, fishing ports, and related facilities), and administrative categories (including general administrative affairs, planning operations, financial operations, accounting operations, legal activities, quality management, and government exchanges and official affairs, etc.) ( Figure 6).
Fishes 2022, 7, x FOR PEER REVIEW 7 of 29 management activities), the basic facilities of the enterprise (office software and hardware, fishing boats, fishing gear, fishing ports, and related facilities), and administrative categories (including general administrative affairs, planning operations, financial operations, accounting operations, legal activities, quality management, and government exchanges and official affairs, etc.) ( Figure 6).

Marine Capture Fisheries
Fishers along the coastal waters have five sales channels after catching: (1) independent sales, that is, they are also fishmongers; (2) selling to retailers; (3) fisheries agencies for either: auction, or to be purchased and sold in fisheries agencies' exhibition and sales centers or supermarkets; (4) purchased by large-scale merchants, and then processed or resold to mid-market merchants, retailers, processors or exporters; and (5) enter the dry goods market (Figure 7).
Most fishers sell their catch to large-scale merchants, and only a few choose to process independently, or enter the dry goods market. After the being sold to the large-scale business, the product will be resold to a mid-tier business, a processing industry, a retailer, or an exporter. The large market players may play multiple roles across the board. For example, Fong Chun Formosa Fishery Company, Ltd. (FCF) owns fishing boats for opera-Trawl fishery  Fishers along the coastal waters have five sales channels after catching: (1) independent sales, that is, they are also fishmongers; (2) selling to retailers; (3) fisheries agencies for either: auction, or to be purchased and sold in fisheries agencies' exhibition and sales centers or supermarkets; (4) purchased by large-scale merchants, and then processed or resold to mid-market merchants, retailers, processors or exporters; and (5) enter the dry goods market (Figure 7).  The aquaculture industry mainly includes three basic sectors: soft and hard equi ment, aquatic products, and bait organisms and feed ( Figure 7). The sectors are describ as follows: 1. Software and hardware equipment: Hardware equipment includes external mach ery, equipment, peripheral facilities, etc., and software equipment includes intern consumables, fish disease medications, etc.; 2. Aquatic products: Aquatic products include seed fish, fry, juvenile fish, etc. Aqua products are not limited to the fish species, but also include shellfish, brackish wa species, as well as imported ornamental and edible species; 3. Bait organisms and feed: Bait organisms refer to the types of food that can be pr Most fishers sell their catch to large-scale merchants, and only a few choose to process independently, or enter the dry goods market. After the being sold to the large-scale business, the product will be resold to a mid-tier business, a processing industry, a retailer, or an exporter. The large market players may play multiple roles across the board. For example, Fong Chun Formosa Fishery Company, Ltd. (FCF) owns fishing boats for operations, while also soliciting business with other coastal fishers, and exporting product to Japan and other countries. The company also has its own processing plants for canned tuna manufacturing, and contracts with other processing plants as well. In addition, FCF also provides other coastal fisher's supply services. The company's business model is extensive, which is also the strategy of the current aquatic product trading company to diversify its operations in response to the impact of globalization.

Aquaculture
The aquaculture industry mainly includes three basic sectors: soft and hard equipment, aquatic products, and bait organisms and feed (Figure 7). The sectors are described as follows: 1.
Software and hardware equipment: Hardware equipment includes external machinery, equipment, peripheral facilities, etc., and software equipment includes internal consumables, fish disease medications, etc.; 2.
Aquatic products: Aquatic products include seed fish, fry, juvenile fish, etc. Aquatic products are not limited to the fish species, but also include shellfish, brackish water species, as well as imported ornamental and edible species; 3.
Bait organisms and feed: Bait organisms refer to the types of food that can be provided by living organisms which breed, while feed refers specifically to food processed and prepared by humans.
The above three items are necessary for operating aquaculture establishments. The aquatic products raised through farming sites can be sold through the following channels. Consumers may be either the domestic or foreign consumer markets:

1.
Direct sales to consumers: For example, (1) shallow aquaculture farmers raise oysters, which can be directly provided to customers for personal consumption by operating an offshore site, (2) farmed aquatic products can be directly sold to consumers through online platforms; 2.
Consignment in traditional markets: Farms can also sell their product in the fish market in person to reduce the low-price acquisition losses of small and mediumsized market players; 3.
Sales to professional fishmongers: Through the acquisition of small and medium-sized market players, the operation time is reduced, and the risk of hoarding is reduced. Generally, there are edible fish and ornamental fish. Ornamental fish are sold mainly in live fish markets, including the trading of fertilized eggs. Fish intended for consumption, are sold either in live fish markets, or sold in general markets after processing; 4.
Production cooperatives: At present, production cooperatives have been established by the fisher's associations in various districts. Larger catches such as Wu Guo fish, eels, groupers, etc., can be sold through this channel. The sales channel even includes live eels for export to Japan; 5.
Edible fish market: Some reservoir farms provide on-site fishing and sale, and may include cooking, such as the famous Shimen live fish. Some farms in the south, when the fish are harvested, will sell their products at a location directly next to the fish farm to provide freshly harvested young fresh fish products to consumers.
The marine fishing and aquaculture fishery production of the primary industry have statistical data in the Fisheries Annual Reports. The aquatic products processing industry of the secondary industry lacks marine health food data in aquatic food products, and the aquatic products of leather products and fish glue, alginic acid, shell powder for aquatic agricultural products, insulin for aquatic medicinal products, and other biotech products have no clear statistical data sources. In the retail and service industries of the tertiary industry, the operation and storage of transportation and storage can be determined through the input-output tables estimates, and there is no information on the warehousing and after-sales service, and supermarkets, stores, vendors, fish direct sales centers, fish traders, fish wholesalers, export networks, and online shopping are all available through the industry. It can be estimated based on the correlation tables. The sightseeing fish market, fish direct sales center, and recreational fishery categories of whale watching, sea fishing, fishing port visits and recreation, fishing history, and folk customs celebrations can be estimated by the statistics of the Fishery Leisure Tourism Program of the Fisheries Department. In support activities, science and technology research and development types of agricultural committee science and technology plans, fisheries department science and technology plans, and human resources management types of administrative activities can be estimated by the relevant government investment amount, and the development of products and processes in the science and technology research and development category. Improvement projects and administrative activities of the corporate organization structure category can be estimated by the government's relevant investment amount. There is some source of relevant information for the basic facilities of the enterprise include fishing vessel mechanized operation equipment, fishing gear manufacturing, fish farms and aquatic product conservation, land transportation equipment, fish market and its equipment, and others. There is some funding. However, there is no source of relevant information for the procurement and human resource management categories.

Methodology
This study adopts the demand-driven input-output model to Taiwan's fishery data and aims to illustrate the linkages between related industries and positions of sectors in the overall economic development. Based on the demand-driven input-output model proposed by Miller and Blair [21], the input-output model can be expressed as follows: where X is the total output vector; Z is the inter-industry transaction matrix (also known as the intermediate input or intermediate demand matrix); F is the final demand vector, including household consumption, private investment, government expenditure and net exports. Among them, the intermediate demands and final demands (excluding the imported part) can be further subdivided into the demand for domestic products (Z D , F D ), and imported products (Z M , F M ), so the Formula (1) can be rewritten as: Among them, that is, the final demand imports of the intermediate demand imports are equal to the total imports, so the Formula (2) can be rewritten as: Under the assumption of fixed coefficients in the input-output model, the technical relationship between input and output is fixed, that is: Among them, a D ij is the domestic direct input coefficient, which represents the unit value of the production of the tertiary industry, and the domestic product of the tertiary industry must be used as the input ratio. From Equation (4), the following relations can be obtained: where A D is the input coefficient matrix of domestic products, and its elements are a D ij . Substituting (5) into (3), we can get: Derived as: Fishes 2022, 7, 114 11 of 27 when it is a nonsingular matrix, it can be solved as follows: Since the purpose of this study is to calculate the economic effects of the output value of the fishery industry and the related industries on the overall economy through the final demands and interdependence coefficients matrix of the fishery and related sectors, this article uses (I − A D ) −1 to calculate the output and value added induced by the final demand of the domestic fishery and its related products in Taiwan. The basic formula for the calculation is: GDP is the value added vector, representing the value added created by various direct and indirect final demands for the domestic fishery and related products. 'v' is a diagonal matrix, and the elements of the diagonal are the ratios of value added embedded in unit output value (1 dollar) in the base year, for each sector in the input-output table. 'd' represents the proportion of domestic products in the final demand of each sector in the input-output table in 2016 [22]. 'm' represents the difference in transportation and sales in the final demand of each sector in the input-output table in 2016. 'C' is the matrix composed of the expenditures of each sector in the input-output table as a percentage of the total expenditures; Y NI is the expenditures of final demand for various types of domestic fishery and its related products.
In order to assess the economic benefits of Taiwan's fishery and related industries, first, this study calculates the gross production expenditures (i.e., consumption, investment, export) of the domestic fishery-related industries. Secondly, the authors use the related output value calculated above and treat it as a direct impact, through the input-output model to evaluate the impacts of fishery-related expenditures on the direct and indirect output effects of the domestic upstream and downstream industries. Then this study uses the value added rate of each industrial sector to calculate the total GDP (gross domestic production) economic benefits.

Data Processing
This study refers to Lin and Zhang [23] using the industry correlation model to calculate the contribution of fishery and its related products to GDP. The final demand includes five major items: private consumption, government consumption, fixed capital formation, inventory changes, and output. Therefore, we must first define the scope of expenditure on Taiwan's fishery-related peripheral products.

Private Consumption
Private consumption includes consumer usage of fresh or refrigerated fishery products, canned aquatic products, non-food supplies, feed, fish and shellfish, fishery leisure tourism, ornamental fish, etc. The private consumption is based on the extrapolation of production value, plus import value, and minus export value (see Tables 1-7).

Government Consumption
The government's investment in fisheries is calculated based on the current accounts of the fisheries agency and its affiliated agencies from 2006 to 2018. Among them, the oil subsidy for fishing boats in 2006 has been moved from the capital account to the current account (see Table 8).

Fixed Capital Formation
In light of the fact that there are some doubts about the official statistics of fishery fixed capital formation in the past, the Planning Division of Fisheries Agency in 2013 specifically reviewed and clarified the problems in the official statistics of fishery fixed capital formation in 2012. The current status of official statistics on the formation of fixed capital in fisheries is constructed under the formation of agricultural fixed capital. The professional practice is planned and promoted by the Statistics Office of the Council of Agriculture, and the reporting data are handled by the related divisions. The Fisheries Agency's reports include: fish farms expansion and aquatic product conservation, construction of fishing ports and equipment, fishing vessel construction and maintenance, fishing vessels' mechanized operation equipment, additional fishing gear, land vehicles, other machinery and equipment, experimental research equipment, fish markets and necessary equipment, and intangible fixed assets. Most of the ten items listed above have been applied to the report as fixed assets. The statistical problem is whether the report is inaccurate due to the possibility of inapplicable items reported, or necessary items that have not been reported. Fisheries are subsidized by county and city governments, foundations, fishers' associations, private fisheries associations, etc. each year, so it must be determined whether the part related to fixed capital formation is actually reported (and with great repetition), whether the subsidy funds are consistent with the reported funds, whether the private investment part is actually reported and how to control, and how to distinguish the subsidy funds into non-fixed capital formation funds and fixed capital formation funds. In addition, how is the fixed capital formation part of private investment calculated and reported, and what is the scope? Generally, farmers and fishers do not take the initiative to report to the Agriculture and Food Agency. As for the private investment of farmers, the number of farmers is uncertain, and there is no notification mechanism for the expansion of fish farms (investment) by farmers, nor do they actively notify. The scope and calculation content of fishery fixed capital formation are as follows. The calculation of capital formation is based on the planned funds or the settlement amount of the subcontract, the funds are reported based on actual expenditures, not the budgetary funds or subcontract funds, and the private investment is controlled by the fishers' associations and other associations controlled by the Department of Fisheries. Investment is the mainstay, other fish farms and fishing boats are not yet available, private investment in new fishing boats (calculated in the current year below), aquaculture investment, and private investment loaned by policy agricultural projects. The projects that belong to the formation of fixed capital in fisheries include: network maintenance funds, dredging projects, fishing port engineering and other design costs, related equipment maintenance fees, VDR communication fees, self-organized project plans (not included in the Jiacheng Information System), fishing port projects, commissioned labor costs for projects, direct sales centers, artificial reefs, etc. At present, the contents of the reported items are still insufficient. It is suggested that the newly added items of fishery fixed capital formation in the future also include: VDR, yacht industry, ornamental fish peripheral industry, and sailing industry.
The fishery fixed capital formation currently used in this study includes the expansion of fish farms and the conservation of aquatic products, the construction of fishing ports and onshore equipment, the construction and maintenance of fishing vessels, the mechanized operation equipment of fishing vessels, the means of land transportation, the fixed assets for fishery experiments and research, the fish markets and related equipment, intangible fixed assets, etc. (see Table 9). In addition, the domestic fixed capital formation of fishing gear is calculated based on the production value of fishing gear minus the export value in the industrial production statistics of the Ministry of Economic Affairs (see Table 10). According to the observation of the changes in the formation of fixed capital in fisheries over the years, the changes between 2009 and 2013 are relatively large, of which mainly occur from changes in fishing vessel construction and maintenance projects, especially during 2010 and 2012 when the investment was peak.

Changes in Inventory
The inventory changes of the fishery are mainly aquatic product inventory changes (see Table 11), which are calculated by subtracting the inventory value at the end of the previous year from the inventory value at the end of each year. Table 11. Changes in aquatic product inventory (Unit: NT$).

Customs Export
Regarding the export value of fishery customs, this study adopts the HS code of the ROC customs import and export trade statistics. The total value of each year is shown in Table 12. In addition, because the customs export data are calculated based on free on board (FOB) price, which includes the transportation and sales price, the difference must be adjusted. How the adjustment is made is introduced in the following context on the adjustment of the transportation and sales margins. Source: Import and export trade statistics by customs of the Republic of China (Taiwan).

Non-Customs Export
Regarding the non-customs export value of fishery, the non-commercial part of this study adopts the statistics of smuggled fishery products seized by the Coast Guard Administration. Since only the weight data of confiscated smuggled fishery products is provided and the statistics of unit prices are lacking, the values are calculated by multiplying the weights by the average unit price of fishery. The average unit price of fishery is calculated by dividing the value of fishery production in the annual fishery statistics report by the fishery production volume. The total value for each year is shown in Table 13. , by Fisheries Agency. Note: 1. Average unit price of fishery = fishery production value/fishery production in the annual fishery statistics report. 2. The total value is calculated based on the average unit price of the fishery weight

Adjustment of the Transportation and Sales Margins
In order to deduct the transportation and sales margins induced through the estimation of final demands, this study deducts the transportation and sales costs, which is approximated by those costs in the 2016 input-output tables, from the final demand in the buyer's price and converts it to the final demand in producer's price.
The relevant customs import and export data need to deduct the transportation and sales costs. The main reason is that the final demand is calculated at the buyer's price. The pricing basis includes the transportation and sales costs. In order to convert into the final demand calculated at the producer's price, the final demand of the product must be converted. The embedded transportation and sales costs are deducted.
Therefore, this study uses the tables of trade and transport margins and the transactions tables at purchasers' prices of the 2016 input-output tables to calculate the trade and transport margin rate for each product of final demand in 2016 (that is, the trade and transport margin/transaction value at purchaser's price), and assuming that the trade and transport margins' rates remain unchanged from 2011 to 2018, multiply the rates by customs import and export data to obtain the trade and transport margin for each product of final demand from 2011 to 2018. These calculated trade and transport margins are then removed into the final demands of wholesale, retail, trade, and other commercial departments, as well as railway, land, sea, air, and other transportation departments. After deducting these trade and transport margins, it is the final demand calculated at the producer's price.

The Economic Benefits of Yacht Activities to Taiwan's Fishing Ports
In order to calculate the value added of fishery and related industries in a more thorough calculation, this study imposes the economic benefits of yacht activities in Taiwan's fishing ports and piers. The additional value added is imposed to the industrial linkage effects in a conservative calculation method, which is based on the estimation by Ye [26] (see Table 14). Optimistic total 3983.00 Source: [26].

Empirical Results
Because there is still part of the consumption of imported goods that must be excluded, this study uses the proportion of domestic production in the final demand of each sector in the 2016 I-O tables to estimate and adjust the final demand matrix calculated at producers' prices for domestic production only (see Appendix A). Table 15 shows the values added created by fishery and related industries and their proportions in GDP from 2011 to 2018. The value added created by fishery and related industries accounted for 2.96% of GDP in 2011, and by 2014, after rising to 3.11%, it fell to 2.87% in 2015, rose to 2.93% in 2017, and fell to 2.84% in 2018. In addition, from 2011 to 2018, the value added created by fishery and related industries rose from NT$ 422.8 billion to NT$ 520.9 billion.    (1)(2)(3)(4)(5)(6)(7)(8)(9)(10)(11) in the table includes agriculture, forestry, fishery, and animal husbandry in the primary industries, and the fishery input sector includes mining, material manufacturing, hydropower construction in the secondary industry, and financial services and business advertising service in the tertiary industry. Fishery product processing industry includes food manufacturing in the secondary industry. Transportation and sale service sector includes transportation and storage, wholesale and retail, catering services, and hotel services in the tertiary industry. Table 15 also further divides the values added created by fisheries and related industries into four major categories of primary (unprocessed) fishery, fishery inputs, fishery product processing, and transportation and sale service sector, according to the relationship between upstream and downstream. In the latest two years (2017~2018), the primary fishery sector has the largest contribution (contributing between 1.83% and 1.70% to total Fishes 2022, 7, 114 23 of 27 GDP), followed by the fishery input sector (contribution rate of 0.62% to 0.64%). The transportation and sale service sector (contribution rate is 0.39%~0.40%), and fishery product processing have the lowest contribution rates (contribution rate is only 0.10%). Generally speaking, the ranking of these four categories is still quite stable.
It is worth mentioning that the contribution of the fishery input sector is about 0.31 to 0.46 times that of the primary fishery, mostly from the business advertising service. The contributions of business advertising service sector are around 0.4% of GDP during the period of this study. This indicates that the contribution of fishery, in addition to the production of primary fishery, can also derive the value added of business advertising service about 0.4% of GDP, which is almost the same size as that of transportation and sale service sector, and it is larger than that of conventional evaluation on value added. Therefore, we should evaluate the contribution of fishery sector from the perspective of the whole fishery value chain, instead of the primary fishery sector only.

Conclusions and Remarks
Based on the calculation of current statistical system, fishery's GDP accounted for less than 0.3% of Taiwan's total in 2011. While we consider the inter-industrial linkage effects between fisheries and related industries, the whole fishery value chain's value added accounted for 2.96% of the country's total GDP. After 3.11% in 2014, it dropped to 2.87% in 2015, rose to 2.93% in 2017, and dropped to 2.84% in 2018. Secondly, from 2011 to 2018, the value added created by fishery and related industries rose from NT$ 422.8 billion to NT$ 520.9 billion. As to the internal structure in the latest two years (2017-2018), the primary fishery sector has contributed the most, followed by fishery input sector and transportation and sale service sector, with fishery product processing sector having the lowest contribution rate. Generally speaking, the contribution ranking of these four major categories of fishery sectors is still quite stable.
In the fishery value chain of Taiwan, fishery productions are calculated in the annual fishery statistics report. However, there are many aspects of the fishery value chain that are not accurately represented due to a lack of data. Examples include the following: aquatic food processing has specific statistical data for edible and non-edible products collected by the Fisheries Agency, but there is no statistical data on marine health food. Most statistical data of the retail and service industries need to be investigated by specific programs, such as fishery and leisure tourism programs, or calculated from industryrelated tables. In supporting activities, most of the data on administrative activities such as scientific research and development categories and corporate organizational structures are derived from agricultural statistics or fishery statistics and fishery-related investments, while only some of the basic facilities of related industries have industrial statistics, such as fishing gear for example. There is also a lack of information on procurement and human resource management. That is to say, the actual value of the fishery value chain is even underestimated, not to mention those that cannot be guided by market functions or displayed, and cannot be included in GDP.
The linkage effects and non-economic functions of the primary productions of agriculture and fisheries are usually underestimated. This study leads to a similar conclusion to that of previous studies. For example, Huang et al. [1] found that there was a sevenfold increase in Taiwan's agricultural value chain, compared to contribution based on mere agriculture production value. Chen et al. [27] found that even though oyster farming showed a relatively low industrial linkage effect, adopting the aggregate multiplier of the fisheries sector to assess unemployment related to a decrease in Taiwan's oyster farming output would seriously underestimate its impact. Further, Seung [16] also found that there was considerable heterogeneity in the direction and the magnitude of the change across countries in global value chain income and employment for world fisheries.
In sum, policy implications induced by this study's empirical results suggest that first, complementary policies in the related industries should be jointly considered when the policymakers intend to formulate fishery policies. For example, since our empirical results suggest that business advertising service and wholesale and retail are the sectors which contribute the main value added of the value chain, thoughtful regulations of e-commerce sales channels, cold chain logistics, and food hygiene for fishery products should also be considered as parts of fishery policies.
Secondly, to replenish the lack of data, detailed investigations and calculations should be conducted on the industrial value chain of fisheries and related industries with high unit price and high value added to optimize the industrial structure of fisheries, to promote and strengthen the value added of the industries, and to develop its unique competitive advantage.