The total income of fishery industry sectors decreased in 2019, with only processing companies being able to increase their revenue. The total income of fishery industry companies amounted to EUR 930 million, and the industry provided 2,342 person-years of employment. Fish processing and the wholesale of fish accounted for nearly 80 per cent of the total income. Net results also decreased, apart from wholesale, while investments increased.
A total of 1,459 companies operated in the fishery industry in 2019. The data concerns companies that are engaged in commercial marine fishery, aquaculture, fish processing, wholesale and retail. At present, the fishery profitability data of the Natural Resources Institute Finland (Luke) does not include fishery industry companies operating in inland waters. Of all fishery industry companies, 70 per cent were fishing companies, with most of these being small companies operating in coastal areas.
The total income of the fishery industry was EUR 930 million. With the exception of processing companies, total income was lower than in 2018 in all fishery industry sectors. Fish processing (EUR 404 million) and wholesale (EUR 314 million) recorded the highest income.
The fishery industry provided 2,342 person-years of employment, down by three per cent from 2018. Fish processing and wholesale provided the most employment, accounting for a total of 61 per cent of person-years in the entire industry. Primary production, i.e. fishing and aquaculture, employed one quarter of all employees.
Profitability decreased – improvements only in wholesale
“The profitability of the fishery industry decreased in 2019. Wholesale was the only sector in which the net results improved (to EUR 7.1 million). The profitability of fish processing decreased clearly, while its net results (EUR 7.6 million) were the highest among all fishery industry sectors in 2019. As a result of the further decreased results of recirculating aquaculture companies, aquaculture produced a loss of EUR 3.1 million”, research scientist Joonas Valve says.
Investments increased in the fishery industry
“In 2019, investments increased in the fishery industry from the previous year. The highest net investments were made in fish processing, with investments totalling EUR 30.6 million, mainly driven by the largest companies”, Valve says.
Larger trawling companies also increased their investments, with net investments in fishing totalling nearly EUR 10 million. In aquaculture, net investments decreased clearly from the previous year, still being nearly EUR 7 million.
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 2008–2019 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.