Value of Norwegian seafood exports continues to grow – nearly NOK 11 billion in October

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Norway exported 291,000 tonnes of seafood worth NOK 10.9 billion in October. Compared with the same period last year: • Export volume increased by 8 per cent, • Export value increased by 9 per cent or NOK 854 million So far this year, Norway has exported 2.2 million tonnes of seafood worth NOK 87 billion.

So far this year, Norway has exported 2.2 million tonnes of seafood worth NOK 87 billion. Export volume has fallen by 4 per cent, but export value has increased by 8 per cent or NOK 6.3 billion compared to the same period last year.

“There has been significant volume growth in exports of both salmon and herring during October, which has contributed to the growth in value. This is due to increased harvesting and catches. In addition, a weak Norwegian kroner is a major contributor to seafood exports setting a new record for the month of October”, says Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council.

“Throughout 2019, the Norwegian kroner has depreciated against the major currencies, and this has helped to increase the export value when this is measured in Norwegian kroner. Measured against the US dollar, across the year the kroner has been 8 per cent weaker compared with the same period last year”, Gangsø continues.

“Measured against the euro and the British pound, the Norwegian krone has been approx. 2.5 per cent weaker”, concludes Tom-Jørgen Gangsø, Director of Market Insight and Market Access with the Norwegian Seafood Council.

Source: seafood.no / Norway Today

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