Norway’s Seafood Exports Surged 2.4% YoY, Reaching USD 8.32 Billion From Jan-23 to Nov-23

From Jan-23 to Nov-23, Norway's seafood export value increased by 2.4% year-on-year (YoY), reaching USD 8.32 billion. The key export products during this period include salmon, fishmeal (up 18.6% YoY to USD 451 million), fish oil (up 87.3% YoY to USD 429 million), mackerel (up 4.9% YoY to USD 351 million), mussels (up 13.3% YoY), and squid (up 1.7% YoY to USD 112 million). Brazil remains Norway's primary destination with a total value of USD 798 million, showing a 4.9% YoY increase. China is the second-largest importer with USD 705 million, marking a significant 27.3% YoY growth, driven by increased imports of salmon, fishmeal, and seaweed. Russia holds the third position with a 25.2% YoY increase to USD 357 million, mainly from salmon and mussels. However, the United States (US) and Japanese markets experienced a decrease, contributing only USD 2.87 billion (-2.3%) and USD 1.04 billion (-17.1%) to Norway's seafood exports.