The turnover in the Sea and Coastal Freight Water Transport sector in Finland has experienced a notable decline from 2014 to 2023. In 2023, it stood at approximately 0.6281 billion euros, reflecting a significant decrease compared to earlier years. Year-on-year variations show a consistent negative trend, with 2023 exhibiting a -6.59% change from the previous year. Over the past two years, the sector saw an average yearly decline (CAGR) of -5.53%, indicative of ongoing contraction. Furthermore, the five-year compound annual growth rate (CAGR) suggests an average yearly decrease of -11.35%, projecting a further dip to 0.3082 billion euros by 2028 based on forecasted data.
Future trends to watch for:
- Continued contraction in turnover, potentially driven by shifts in global trade patterns and competition from other transport sectors.
- Impact of environmental regulations and sustainable practices on operational costs and sector adaptation.
- Technological advancements and innovations aimed at improving operational efficiency and reducing costs.