Description of profitability of the fisheries industry statistics
Compiler: Natural Resources Institute Finland
Homepage: Profitability of the Fisheries Industry
Subject matter: Agriculture, forestry and fisheries
The statistics form part of the Official Statistics of Finland (OSF): No
European Statistical System (ESS): No
Description
The website on the Profitability of Fisheries Industry contains key financial indicators of fisheries and data on the financial standing of companies in the fisheries industry. This website offers an economic overview of Finnish fishing and aquaculture companies based on their latest financial statements. EU legislation obliges Finland to gather detailed data on the Finnish fisheries industry. The EU programme for fisheries data collection seeks to gather biological, economic, and statistical data on fisheries to support the Common Fisheries Policy. The European Commission uses the data obtained through the fisheries data collection programme for the planning of its fisheries policy and the monitoring of the policy’s impacts.
Data contents
The financial information pertaining to the industry and its companies is primarily based on the financial statement data of commercial fisheries companies provided by Statistics Finland. The financial statement data for fish processing, fish wholesaling and retail only concern companies with turnover exceeding the Statistics Finland turnover limit (around EUR 11,000). The fisheries industry profitability data covers all the commercial, professional fishing companies in the sea area that have submitted their catch information. No key financial indicators are available for companies fishing in freshwaters. Aquaculture financial statement data comprises all main activity companies.
Classifications
Fishing companies are divided into large trawlers (vessels over 24 metres) and small trawlers (vessels under 24 metres), coastal fishers with turnover of over EUR 10,000 and coastal fishers with turnover of under EUR 10,000. Annual turnover of EUR 10,000 is the limit for VAT liability. As of 2016, this same monetary limit has also been applied by the new Fishing Act to divide commercial professional fishing companies into Type I and Type II in the professional fishing register. Until the year 2015 this limit was EUR 8,500.
The aquaculture companies are divided into five categories based on their main production orientation. The categories are: food fish production at sea, food fish production in inland waters, recirculating aquaculture, juvenile production, and fish farming in ponds with natural food. In 2008–2015 aquaculture enterprises were divided according to their production priorities into hatcheries and nurseries, freshwater food fish producers, combined producers (both fry and food fish production), and marine food fish producers. Fry production also covered natural food ponds.
The companies in the fish processing, fish wholesaling and fish retail sectors have been divided into three size categories based on company turnover figures: large companies (largest 10%), mid-size companies (largest 40% of the remaining companies), and small companies.
Data collection and sources
The data have been pooled from Natural Resources Institute Finland’s fishing and aquaculture production statistics and Statistics Finland’s financial statements on the fisheries sectors (fishing, aquaculture, fish processing, fish wholesaling, fish retail). The financial information pertaining to the sector and its companies is primarily based on the financial statement data collected by Statistics Finland. Natural Resources Institute Finland has calculated the key financial indicators for different sectors of the fisheries industry on the basis of financial statements.
Update frequency
Information is published once a year.
Preparation or publication schedule
The latest statistics cover the year preceding the current year. The data that Statistics Finland collects on the financial statements of companies in the fisheries industry is only made available to Natural Resources Institute Finland in the year after the financial statements are published, meaning that the latest data covers the preceding year.
Time series
Time series of key financial indicators are given in nominal values. Data is available in the database dating back to 2008.