According to information collected by the Natural Resources Institute Finland (Luke), the turnover and total income of coastal fishing increased in 2017. At the same time, however, profitability decreased.
In 2017, the turnover of coastal fishing was EUR 7.6 million, being approximately EUR 0.5 million higher than in 2016. Coastal fishing covers fishing activities using vessels of less than 10 metres in length.
“The total income increased from the previous year by EUR 0.4 million to EUR 9.1 million. The total income consists of the turnover, subsidies and other income, such as seal damage and insurance compensation, as well as rent”, says Markku Kärnä, research scientist at Luke.
The number of enterprises decreased, while the average turnover increased
In 2017, a total of 1,089 enterprises were engaged in coastal fishing in Finland with an average turnover of EUR 6,900.
The number of coastal fishing enterprises decreased by 11% in 2017, while the average turnover of enterprises increased by one-fifth. Following the new Fishing Act entered into force at the beginning of 2016, the number of registered commercial fishermen increased. At the same time, the number of small part-time fishing enterprises increased temporarily. In 2017, active coastal fishing enterprises appear to have continued their activities.
“The total costs of coastal fishing enterprises increased to EUR 4.4 million. This increase in costs led to a decrease in profitability, regardless of the increase in turnover. Net profit was roughly 5% lower than in 2016”, Kärnä says.
Detailed information easily available from the Economy Doctor service
Information about the financial activities and financial statements of coastal fishing enterprises is collected annually through Luke’s survey. Financial statements information has been collected since 2008.
The service produces average results and reports in accordance with customer preferences. The service includes financial statements information about coastal fishing regarding small-scale coastal fishing and by catch and turnover category from 2008–2017 in Finnish, Swedish and English.