ANALYSIS OF BIOECONOMY DEVELOPMENT IN FINLAND

Abstract

As countries strive to address global challenges, the concept of bioeconomy has become one of the central themes as an alternative to the traditional fossil-based economy. This article provides an overview of the bioeconomy, focusing mainly on three main sectors: primary production, fully-biobased manufacturing, and partly-biobased manufacturing. By using the quantitative method, EUROSTAT statistical data synthesis and policy analysis, the structure of the bioeconomy in Finland is analysed based on the gross value added (GVA) indicators of each sector. The result shows that forestry and bio-based industries play a dominant role in the value added of Finland’s bioeconomy. The analysis indicates that Finland’s bioeconomy has transitioned from higher volume to higher value added in alignment with Finland’s carbon-neutrality goal by determining four main strategic pillars. The conclusions emphasize the importance of multi-ministry cooperation and regional plans for the long-term bioeconomic goals of Finland.