Profitability of fishery 2022

Russia’s invasion of Ukraine had a major impact on the fisheries industry in 2022 especially due to increased energy costs. Revenues in the fisheries sector slightly recovered after the difficult pandemic years but remained below the 2019 level.

• In 2022, a total of 1,780 companies operated in the fishery industry. Among them, 77% were fishing companies, with the majority engaged in small-scale fishing practices. 
• The fishery industry provided 2,117 annual work units of employment. Fish processing was the largest sector, covering some 42% of the entire industry. Wholesale and retail accounted for roughly 30% combined, and primary production approximately 28%. Employment decreased in aquaculture and commercial marine fishery, while it increased in all other sectors.
• In 2022, the total revenue for fisheries enterprises amounted to €942 million. Fish processing produced the highest revenue at roughly EUR 438 million, followed by wholesale with total revenue of EUR 291 million. Fish retail trade produced the total revenue of almost EUR 61 million, aquaculture EUR 101 million and commercial fishery EUR 51 million.
• The processing value produced by the fishery industry amounted to EUR 142 million. The largest sector in terms of processing value was fish processing with EUR 45.5 million. Wholesale produced the second largest processing value at EUR 38 million. The processing value of commercial marine fishery was nearly EUR 17 million and that of commercial inland fishery was nearly EUR 7 million. 
• The net result of commercial marine fishery was EUR 3.7 million and that of commercial inland fishery was EUR 1.8 million. Aquaculture companies produced a loss of EUR 4.5 million.
• Wholesale fish net profit improved from the previous year to EUR 14.4 million, while the result for fish processing deteriorated to a loss of EUR 10.7 million.