The value of Norwegian seafood exports has once again soared thanks to the continuing weak krone.
Norway exported seafood worth NOK 14.2 billion (€1.23 billion) in August, an increase of 15% compared to the same month in 2022.
“The devaluation of the krone is the main reason for the increase in the export value,” said Christian Chramer, chief executive of the Norwegian Seafood Council.
“In August, the Norwegian krone was as much as 16 per cent weaker against the euro than in the same month last year. This explains almost the entire increase in export value.”
Norwegian seafood was exported to a total of 110 countries in August. The three largest markets in August measured by export value were Poland, the USA and Denmark.
Highlights from seafood exports in August include:
Largest increase in export value to the USA
North America, and the US in particular, saw the strongest growth in value in August with values increasing by 24%.
In total 10.4% of Norwegian seafood exports in terms of value were exported to this region, the first time value has topped 10% in August since the 1980s.
Two and a half years of value growth for salmon
The demand for fresh salmon and trout is outstripping that for mackerel, salmon fillets and frozen code with total export values exceeding NOK 10 billion (€870 million).
Increased tourism lifts outdoor consumption
In June, July and August Norway export values increased by 14%, thanks in part to the popularity of restaurant meals as tourists flock back to European destinations like Portugal.
August was a good month for live king crab
In the wild-caught market, demand for live king crab has picked up in the Asian market whilst volumes of mackerel have slumped thanks to reduced landings.
