THE FINNISH BLUE ECONOMY Definition and Economic Significance

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THE FINNISH BLUE ECONOMY Definition and Economic Significance THE FINNISH BLUE ECONOMY Definition and Economic Significance Essi Heikkinen University of Helsinki Faculty of Agriculture and Forestry Department of Economics and Management Master’s Thesis January 2019 Faculty: Department: Faculty of Agriculture and Forestry Department of Economics and Management Author: Heikkinen Essi Henriikka Title: The Finnish Blue Economy – Definition and Economic Significance Subject: Environmental and Natural Resource Economics Level: Month and Year: Number of pages Master’s Thesis March 2019 76 Abstract: Marine ecosystems and oceans have a vital role in sustaining life on Earth. Additionally, the oceans have an essential role in the world's economy as the main platform for global trade as well as a provider of many raw materials and resources. Due to the degradation of these marine ecosystems, the wellbeing of the seas and oceans has risen to the forefront of many global and regional political initiatives and agendas, and consequently, new concepts such as the blue economy have evolved. However, the sector lacks a clear consensus regarding its definition. In the absence of a unified definition, there is no general perception of what the blue economy sector means for the national economy of Finland. In order to efficiently and optimally regulate and manage the use of ocean resources and space, it is essential to understand the economic contribution and the role of industries linked to it. As a part of a more extensive research project called Blue Adapt, this thesis strives to identify the industries regarded as blue economy and measure their current economic contribution in Finland. In order to estimate the economic size of the blue economy sector, first the definition of the concept is clarified. The definition as well as the identification of economic activities regarded as part of it, is made based on a literature review. In the literature review, different studies are compared and analyzed and as a result, the most common activities are selected. The economic contribution of these sectors is measured by deriving data from the national accounts system and the standard structural business statistics (SBS). Further, four macro indicators are chosen to measure the economic weight of the blue economy sectors: turnover, employment, value added and exports. In addition, these macro indicators are analyzed and compared to national figures, such as the gross domestic product (GDP), gross value added (GVA), the national employment, and exports in order to gain an overview of the sector’s relative significance within the Finnish economy. This study shows that the six sectors of the blue economy generated in total a turnover between 14.6–20.2 billion euros, constituting roughly 3.5–4.9% of the national output, and created approximately 4–5.8 billion euros in value added, which covers over 2% from the national gross value added, and 1.8–2.6% from the gross domestic product. The sector employs somewhere between 53 000–71 000 people, which is 2–2.7% of the national employment of Finland. The share of exports from the national total is somewhere between 4–6.2%, and 3.5 to 5.4 billion euros. If compared to other industries in Finland, the blue economy sector is slightly larger than forestry measured by value added and possibly even larger than the forest industry, covering roughly 2.1–2.8% of the national GVA. In terms of employment, the proportion of the blue economy sector is slightly more than that of forestry and the forest industry combined, but less than that of agriculture. To conclude, as the forest industry and forestry are commonly seen as central generators of economic wellbeing in Finland, it is important to acknowledge the significance of the blue economy sector. Future policies regulating the maritime should bear in mind the economic importance and potential of the sector, as well as its role in climate change mitigation and other environmental policy goals. Keywords Blue Economy, Marine Economy, National Accounts, Macro-indicators, Economic contribution Where deposited: ethesis.helsinki.fi Additional information: BlueAdapt www.blueadapt.fi Tiedekunta/Osasto: Laitos: Maatalous-metsätieteellinen tiedekunta Taloustieteen laitos Tekijä: Heikkinen Essi Henriikka Työn nimi: Suomen sinisen talous – Määrittely ja taloudellisen merkittävyyden analyysi Oppiaine: Ympäristö- ja luonnonvaraekonomia Työn laji: Aika: Sivumäärä: Maisterintutkielma Maaliskuu 2019 76 Tiivistelmä: Meriekosysteemeillä ja valtamerillä on elintärkeä rooli maailmassa. Lisäksi, koko historian ajan valtamerillä on ollut keskeinen rooli maailmantaloudessa kansainvälisenkaupan tärkeimpänä alustana sekä monien raaka-aineiden ja resurssien tarjoajana. Meriekosysteemien tilan heikkenemisen vuoksi merien ja valtamerien hyvinvointi on noussut monien maailmanlaajuisten ja alueellisten poliittisten aloitteiden keskiöön, jonka seurauksena uusia sinisen talouden kaltaisia käsitteitä on kehittynyt. Sinisen talouden käsitteen ja siihen kuuluvien toimialojen määrittelystä ei kuitenkaan ole selkeää yksimielisyyttä. Yhtenäisen määritelmän puuttumisen vuoksi, ei sinisen sektorin taloudellisesta merkittävyydestä ole selkeää ymmärrystä. Jotta merien hyödyntämistä voidaan poliittisesti ja taloudellisesti säädellä mahdollisimman optimaalisesti, on tärkeää ymmärtää sinisen talouden toimialojen kokonaistaloudellinen arvo. Tämä tutkielma pyrkiikin määrittämään sektoriin kuuluvat toimialat ja arvioimaan niiden tämänhetkisen taloudellisen kontribuution Suomen kansantaloudessa. Jotta sektorin taloudellinen arvo voidaan mitata, on sinisen talouden käsitteelle löydettävä yhtenäinen määritelmä ja tunnistettava sektoriin yleisimmin luettavat toimialat. Tämä on tehty laajaan kirjallisuuskatsaukseen pohjautuen, jossa kansainvälisiä meritaloutta mittaavia tutkimuksia vertailtiin keskenään ja tutkimuksille yhtenäiset ominaisuudet tunnistettiin. Sektorin taloudellinen arvo on määritelty hyödyntämällä kansantalouden tilinpidon-, yritysten tilinpäätös-, sekä matkailun-, että julkisen sektorin tilastotietoa. Neljä makroindikaattoria valittiin kuvaamaan sinisen talouden taloudellista arvoa: liikevaihto, arvonlisä, työllisyys sekä vienti. Lisäksi kyseisiä indikaattoreita verrattiin kansallisiin tunnuslukuihin kuten bruttokansantuotteeseen, bruttoarvonlisään, työllisyyteen sekä kansalliseen vaihtotaseeseen. Tutkimuksen tulokset osoittavat, että sinisen talouden sektorit tuottavat noin 14–20 miljardin euron liikevaihdon, jonka osuus kansantalouden tuotoksesta on noin 3.5–4.9%. Lisäksi sektorin tuottama arvonlisä kattaa n. 1.8–2.6% Suomen bruttokansantuotteesta ja yli 2% bruttoarvonlisästä. Sinisen talouden työllisyys käsittää noin 2–2.7% koko Suomen työllisyydestä, ja vienti 4–6.2% koko kansantalouden viennistä. Muihin kansantalouden sektoreihin verrattuna, sininen talous on kooltaan hieman metsätaloutta ja mahdollisesti jopa metsäteollisuutta suurempi arvonlisällä sekä työllisyydellä mitattuna. Yhteenvetona voidaan todeta, että koska metsätalous ja –teollisuus nähdään Suomessa yleisesti keskeisenä taloudellisen hyvinvoinnin tuottajana, on tärkeää, että yhtä suuren jollei jopa suuremman sinisen talouden sektorin taloudellinen merkitys huomioidaan politiikan teossa. Meripolitiikkaa säädettäessä olisi tärkeää huomioida alan taloudellinen merkitys ja potentiaali, sekä sektorin rooli ilmastonmuutoksen hillinnässä sekä muissa ympäristöpolitiikan tavoitteissa. Avainsanat: Sininen talous, meri talous, kansantalouden tilinpito, taloudellinen kontribuutio, makroindikaattorit Säilytyspaikka: ethesis.helsinki.fi Muita tietoja: BlueAdapt www.blueadapt.fi Table of Contents: Acknowledgements ....................................................................................................................... 1 List of Figures ................................................................................................................................ 2 List of Tables ................................................................................................................................. 2 List of Abbreviations: .................................................................................................................... 3 1. Introduction .......................................................................................................................... 4 2. Comparing definitions of the blue economy concept – a literature review ......................... 6 2.1. Classification Methods Found in Literature .................................................................. 7 2.2. Identified blue economy sectors and MEAs ............................................................... 11 3. Framework: Macro-indicators and The System of National Accounts ............................... 13 3.1. The System of National Accounts ............................................................................... 14 3.2. The Nomenclature of Economic Activities (NACE) ...................................................... 14 3.3. Macro Indicators ......................................................................................................... 16 4. Methods and data ............................................................................................................... 18 4.1. Definition of the Finnish Blue Economy ...................................................................... 18 4.2. Maritime- and industry share estimates..................................................................... 23 4.2.1. Estimates for the Living Resources Industry ......................................................
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