Norway seafood exports increase in the third quarter of 2024 thanks to historically high value in September

Published 2024년 10월 7일

Tridge summary

Norway's seafood exports rebounded in Q3 2024, growing by 5% to NOK 44.1 billion (USD 4.1 billion) despite currency effects and quota reductions, led by a 3% increase in salmon exports to NOK 31.8 billion (USD 2.99 billion). Germany emerged as a significant market, driving a 32% increase in purchases. Trout exports also surged by 34% in volume and 23% in value. The industry faces challenges such as sea lice, higher costs, and competition, but falling food inflation has stimulated demand for salmon, offsetting the economic downturn earlier in the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After a downturn at the start of 2024, Norway’s seafood export value returned to positive performance in the third quarter of 2024. The Norwegian Seafood Council (NSC) announced Norway’s seafood exports reached NOK 44.1 billion (USD 4.1 billion, EUR 3.7 million) in Q3 2024, an increase of 5 percent, or NOK 2.2 billion (USD 206 million, EUR 188 million), over the same period of 2023. After a negative H1 2024, the increase was substantial enough to put Norway back into a net positive in value terms for the first three quarters of the year. “Thanks to a historically high export value in September, we have [experienced] the best third quarter ever,” NSC CEO Christian Chramer said. Chramer said that this time, the export value numbers are not influenced by any currency effects. Prior export value increases were largely thanks to a weaker Norwegian krone, which was causing some seafood export uncertainty in 2023 and was largely the reason the country’s seafood export value increased in ...

Source: Seafoodsource