The profitability of all of the branches of the fishery industry, except for aquaculture, improved in 2018. Total income of fishery industry companies amounted to EUR 964 million, and the industry provided 2,406 person-years of employment. Fish processing and fish trade remain the key branches of the fishery industry: almost 90% of the total income comes from fish processing, as well as the wholesale and retail trade of fish. These branches employed almost 80% of the total workforce in the industry.
Profitability improved in all branches of the fishery industry, except for aquaculture. As in the previous year, the largest net result (EUR 13.3 million) was achieved by fish processing companies, while fishing companies, boosted by trawlers, improved their net result from 2017 by up to 72%, achieving a net result of EUR 9.4 million. The profitability of aquaculture companies experienced a significant decrease and recirculation aquaculture companies made a loss of almost EUR 10 million. Investments in recirculation aquaculture continued: the branch’s net investments amounted to more than EUR 25 million.
“Total income of fishery industry companies amounted to EUR 964 million. Fish processing companies increased their income by 11% and produced, yet again, the highest income at EUR 397 million. Income of the other branches decreased or remained nearly unchanged,” says Markku Kärnä, research scientist from the Natural Resources Institute Finland (Luke).
Majority of companies are fishing companies
According to Luke’s fishery profitability statistics, a total of 1,506 companies operated in the fishery industry in 2018. The statistics concern companies that operate in the branches of commercial marine fishing, aquaculture, fish processing, wholesale and retail. For the time being, the statistics do not include fishery industry companies operating in inland waters.
“Most fishery industry companies were fishing companies, and most of the fishing companies were small companies operating in coastal areas. When combined, however, fish processing, wholesale and retail trade accounted for almost 90% of the total fishery industry income,” Kärnä continues.
Fishery industry is highly centralised
Fish processing and trade are highly centralised branches of industry, which means that the ten largest companies produce clearly more than 80% of the industry’s total income. Also, in the case of aquaculture, the ten largest companies account for more than half of the total income.
The fishery industry provided 2,406 person-years of employment, which was four per cent less than in the previous year. Fish processing provided the most employment: 34% of the entire industry. Combined, wholesale and retail accounted for 43% of the industry’s employment, while the share of primary production (i.e. fishing and aquaculture) was 23%.
Information in EconomyDoctor and stat.luke.fi
Financial indicators of fishery industry companies are published in Luke’s EconomyDoctor and statistical database stat.luke.fi. Financial indicators for 2008–2018 are available in Finnish, Swedish and English. The companies’ financial indicators can be viewed in the case of processing and fish trade by company size, in the case of aquaculture by production orientation and in the case of fishing by form of fishing.