Three years of growth for Norwegian seafood

Norway exported seafood worth NOK13.3 billion (€1.16 billion) last month, an increase of 3% compared with the same month in 2023.

“Thanks to strong growth in the value of salmon, trout, cod and snow crab, the export value in February was lifted to a historically high level,” said Christian Chramer, chief executive of the Norwegian Seafood Council.

The last time there was a decline in export value was in February 2021. “Despite the coronavirus pandemic, the outbreak of war in Europe and a weakened economy during this period, Norwegian seafood has experienced good demand in the seafood market,” continued Chramer.

However, global currency fluctuations play a large part in the increase, with the weak Norwegian krone particularly significant.

“We are still exporting lower volumes at higher values measured in Norwegian kroner,” said Chramer. “At the same time, the export value measured in euros has now fallen for three months in a row, and in eight of the last 12 months. This clearly illustrates how currency-driven exports are.”

The largest markets for Norwegian seafood exports in February were Poland, Denmark, and the US.

Seafood was exported to a total of 114 countries in February, three more than the same month last year.

Denmark saw the greatest growth in value in February, with an increase in export value of NOK179 million (€15.68 million), or 18% over 2023.