The state of the economic security financial component of Primorsky Krai fishery complex

Abstract

Unstable economic conditions in which the fishery complex operates intensify the impact of external and internal threats. External threats are sanctions pressure from European states, mainly related to re-strictions on the supply of fish products and equipment imports. Internal threats include high costs for the implementation of production activities, the unsatisfactory condition of fixed capital and the low rate of its renewal, unstable fishing conditions, etc. Negative trends that have formed over the past decades continue to adversely affect activities. Since the fish industry is a very significant industry, the lack of control over the state of its economic security can threaten the full food security of the population, as well as the functioning of many industries whose business is related to fish raw materials. The most significant indicators of the economic security of the fishery complex of Primorsky Krai are analyzed: the ratio of growth rates of net profit, revenue and asset value, the economic growth sustainability coefficient, indicators of the efficiency of the use of production resources, financial stability and solvency. Using analytical procedures, a quantitative assessment of the influence of factors on indicators with negative dynamics is given. An unstable change and a low level of the economic growth sustainability coefficient were revealed. The reason for this was the profitability of sales of fish products, insufficiently intensive turnover of own working capital, unsatisfactory solvency of organizations. Current assets are not enough to pay off debts, there is a high dependence on earthly sources of financing. Meanwhile, there is an improvement in the efficiency of the use of fixed capital, labor resources, which has developed under the influence of growth in revenue and profit; the profitability of products is increasing, the profitability of assets is low.