Forestry, fishing, and related activities
Industry profile, February 2020
Sections: Description | Pricing | Costs | Demand | Appendix
This page is an industry profile for the Forestry, fishing, and related activities industry. It provides a general economic overview of recent developments in the industry. This includes information on industry pricing, costs, and demand. Below you will find a description of what type of business establishments are included in this industry. For information on how to best utilize this industry profile please visit our Business Solutions.
Industry Description
Industries in the Forestry and Logging subsector grow and harvest timber on a long production cycle (i.e., of 10 years or more). Long production cycles use different production processes than short production cycles, which require more horticultural interventions prior to harvest, resulting in processes more similar to those found in the Crop Production subsector. Consequently, Christmas tree production and other production involving production cycles of less than 10 years, are classified in the Crop Production subsector.
This industry description was sourced from the North American Industry Classification System.
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- As of January 2020, prices in this industry had decreased 0.3 percent since the previous quarter.
- From January 2019 to January 2020 prices in this industry decreased 4.5 percent.
- Prices decreased 1.3 percent in the five year period starting in January 2015 and ending in January 2020.
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- As of January 2020, costs in this industry had 0 percent since the previous quarter.
- From January 2019 to January 2020 costs in this industry increased 3.3 percent.
- Costs increased 7.4 percent in the five year period starting in January 2015 and ending in January 2020.
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- The largest cost for this industry is purchases made to the Labor sector. This sector accounts for 58.7% of the industry's overall costs.
- From January 2019 to January 2020, the largest change in costs for this industry were costs associated with purchases to the Labor sector. Costs associated with this sector increased 6.6%.
| Sector Name | Percentage of Costs | Annual Percent Change 4 |
|---|---|---|
| Labor | 58.7% | +6.6% |
| Agriculture, Forestry, Fishing and Hunting | 20.7% | -1.7% |
| Manufacturing | 12.9% | +0.3% |
| Finance and Insurance | 2.2% | -6.2% |
| Professional, Scientific, and Technical Services | 1.7% | -3.4% |
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- As of July 2019, demand for this industry had increased 2.1 percent since the previous quarter.
- From July 2018 to January 2020 costs in this industry increased 8.5 percent.
- Costs increased 6.2 percent in the five year period starting in July 2014 and ending in July 2019.
For details on which industries are included in each sector, click here
- The sector that contributes the most to this industry's demand is the Manufacturing sector. This sector accounts for 34.9% of the industry's overall demand.
- From January 2019 to January 2020, the largest change in demand for this industry was from the Exports sector, where demand increased 50.3%.
| Sector Name | Percentage of Demand | Annual Percent Change 6 |
|---|---|---|
| Manufacturing | 34.9% | +5.4% |
| Agriculture, Forestry, Fishing and Hunting | 32.5% | +4.1% |
| Exports | 11.2% | +50.3% |
| Personal consumption | 9.4% | +5.1% |
| Wholesale Trade | 5.4% | +5.3% |
- Pricing measured from January 2020.
- The BLS PPI used for this industry is PCU1133--1133--.
- Costs measured from January 2020
- Demand measured from July 2019
