Economy

Fife is home to just over 374,000 people. It contributes to the Scottish economy with an annual business turnover of around £13,879 million. As well as supporting over 10,000 businesses and approximately 104,000 jobs, Fife is the perfect choice for enterprises attracted by proximity, first-class business propositions, a capable workforce and lower costs.

In 2017, Fife Council launched an economic strategy.  It sets out how it will work together with partners to achieve more robust and sustainable growth for Fife’s businesses

Fife's Economic Strategy 2017-27 (PDF Download)  is our economic strategy for the region. This strategy is soon to be revised.

The strategy identifies four priority areas:

• Achieving fairer, more inclusive growth.
• Increasing investment in Fife's business infrastructure.
• Improving business growth through increased internationalisation, sales and exports.
• Fostering a culture of innovation and enterprise.

Mid Fife

The Mid-Fife area of Fife extends from the M90 in the west through to the Firth of Forth coastline in the east and comprises the
Cowdenbeath, Kirkcaldy, Glenrothes and Levenmouth local committee areas.

Mid-Fife is well-connected to the M90 via the A92 dual carriageway running east-west through the region and is also well-serviced by the Fife Circle rail network and East Coast Main Line providing onward links to Edinburgh and the south; Dundee, Aberdeen and the north; and Glasgow to the west.

The recent Scottish Government announcement about the reinstatement of the Levenmouth rail link, due for completion by 2023, has provided a major boost to Mid-Fife and is accompanied by further funding from the government and Fife Council to enhance the area’s economic prospects.

You can view a copy of the Mid Fife Prospectus here

Area Economic Profiles

Our annual Local Area Economic Profile provides an overview of the characteristics and performance of Fife's labour market and business base. The data in the profile are broken down to the areas covered by each of Fife Council's seven Local Area Committees. The latest profile covers the period following the early stages of the Covid-19 pandemic and the UK's exit from the EU and also provides a summary of the business support and economic development activity carried out by Fife Council in 2021/22. For further information about the content of this publication, or if you would like any bespoke economic data, please contact us.

• Fife Local Economic Profiles 2021-2022

Fife's Business Base

The 2021 Fife Business Base Report provides one of the first insights into the initial impact of the Covid-19 pandemic and EU Exit on Fife's business population.  It provides data on changes in the number, characteristics and performance of companies operating in Fife between March 2020 and March 2021, and on changes in business births, deaths and survival rates between 2019 and 2020.

To access a range of socio-economic, health and wellbeing information and statistics about Fife, visit the KnowFife Dataset.

Monthly Economic Updates