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Seafood generates billions in spin-offs

Seafood generates billions in spin-offs

Published 08 September 2017

A new SINTEF report has quantified the economic value of spin-offs generated by the aquaculture industry.

Picture of filets of salmon

Norwegian farmed salmon is in huge demand. According to a new SINTEF report, the product generates enormous economic spin offs. Photo: Thinkstock.

According to the analysis, about 9,500 jobs are created directly in technology and service supply companies, while the rest of the industry sees spin-offs equivalent to about 12,000 jobs. The report also reveals that last year, suppliers to the aquaculture and seafood industry generated value amounting to NOK 24.5 billion.

In a recent interview for the Trondheim newspaper Adresseavisen, Research Manager Heidi Bull-Berg says that estimates of the industry's contribution to the Norwegian GNP are based roughly on the sales value of all goods and services, minus costs.

The report demonstrates that fish feed suppliers account for the biggest single share of direct value generation (NOK 2.7 billion), while the biggest spin-offs are experienced in the building and construction industry. This is the first time that an analysis of this kind has been carried out.

The report has been prepared by SINTEF Technology and Society and SINTEF Ocean, and funded by the Norwegian Fisheries and Aquaculture Research Fund (FHF). It was presented during the Aqua Nor exposition in Trondheim this week.

The report is available on the website of the Fisheries and Aquaculture Research Fund (FHF).

For further information, please contact Ulf Winther at SINTEF Ocean.

Research Director