Fishery revenues soar in 2017

The total revenues of fishery industry companies in 2017 were EUR 959 million and there were 1,643 companies in the industry, employing 2,498 person-years, according to the Natural Resources Institute Finland (Luke).

Fishing companies accounted for 71% of all fishery industry companies. The sector with the highest revenue and employment was fish processing. Fish processing companies also produced the largest net profit in the industry. Aquaculture companies improved their net result the most.

“The majority of the fishery industry companies in the industry (71%) were fishing companies. Fish trade and fish processing are highly centralised, meaning the ten largest companies produce clearly more than 80% of the total revenue in these sectors. In addition, the top ten aquaculture companies accounted for more than half of the total revenue,” said Luke Research Scientist Markku Kärnä.

The total revenue of the fishery industry in 2017 increased 6% from that of 2016. Fish processing and fish trade accounted for nearly 90% of the total revenue. Fish processing companies increased their revenue by 13% and produced the highest revenue at EUR 354 million.

The fishing industry provided 2,498 person-years of employment, remaining unchanged from the previous year. Fish processing provided the most employment: 30% of the entire industry. Fish wholesale and retail combined accounted for 45%.

The net result of the fishery industry was positive in all sectors. The largest net profit, EUR 8.8 million, was made in fish processing. Aquaculture companies reached nearly similar result, multiplying their net result from 2016.