Norway exported NOK14.4 billion (€1.37 billion) worth of seafood in November, an increase of 19% compared to the same month last year.
So far this year, Norway has exported NOK138 billion (€13.11 billion) worth of seafood which is 21% more than the last year. However, the increased value is thanks to food inflation rather than higher volumes of exports.
“The export value in November is the third highest ever in a single month and confirms that Norwegian seafood still has a strong global position,” said Christian Chramer, chief executive of the Norwegian Seafood Council.
“Nevertheless, the increase in demand is not taken out in greater volume but in higher prices,” he added.
Lower volumes
In November, many seafood species were exported in lower volumes than a year ago, depressing revenues by approximately NOK900 million (€85.5 million) compared to November last year.
“After an excellent start to the year, we experienced a drop in both volume and value for herring and mackerel in November, so we are unlikely to see new export value record for pelagic exports this year,” continued Mr Chramer.
Nevertheless, value remains high and if this year’s strong growth continues in December, seafood exports will pass NOK150 billion (€14.25 billion) by the end of 2022, driven mainly by salmon which accounted for 70% of the total export value in November.
Domestic consumption of salmon is falling, particularly in the vital hotel and restaurant sector. However, demand has risen sharply in the US, with export volumes up 22% compared with the same period last year. Norway exported seafood to 121 countries in November, the largest markets being Poland, Denmark and the US.
