Norwegian seafood export surpasses last year’s record

The export value of Norwegian seafood remains above last year’s record highs.

So far this year, seafood exports have totaled NOK 76.7 billion, which corresponds to a value increase of 1% or NOK 623 million compared to the same period last year.

“We are managing to stay ahead of last year in export value due to the strong start of the year, a weak Norwegian kroner, higher export volumes, and processing of individual products. So far in 2020, herring, mackerel and products made from these species account for the largest increase in value, while there has been a fall in the export value of salmon, clipfish of cod and shrimp,” CEO of the Norwegian Seafood Council Renate Larsen said.

“The record high export values seen in the first nine months of the year is incredibly impressive. Again, the industry shows that it has many legs to stand on. Norway is known for being a safe provider of healthy and safe seafood, and this has been important during this period marked by many other uncertainties,” Minister of Fisheries and Seafood Odd Emil Ingebrigtsen (H) noted.

Negative developments

Although the value of Norwegian seafood exports for the first nine months of the year is higher than in the same period last year, quarterly statistics show a negative development:

• First-quarter: NOK 28,5 billion (+11 per cent)
• Second-quarter: NOK 24,6 billion (-3 per cent)
• Third-quarter: NOK 23,6 billion (-5 per cent)

In September, seafood exports amounted to NOK 8.6 billion, which corresponds to a decrease in the export value of 2% or almost NOK 150 million, measured against the same period last year.

“After a relatively large decline in export value in August, we see that the value in September is closer to 2019 figures. The species that have increased in value the most are salmon, trout, salted fish and king crab. On the other hand, we are still seeing a decline in demand for most other products. For clipfish, this has also led to a lower export value in September this year, compared with the same period last year,” Larsen warned.

Source: Norwegian Seafood Council / Norway Today