Rapid growth in Norwegian seafood exports in the first quarter

Published 2022년 4월 5일

Tridge summary

In the first quarter of 2022, Norway saw a significant growth in the export value of its seafood industry, reaching a record NOK 34 billion, despite challenges such as global trade tensions, adverse weather, and lower sea temperatures. This growth was driven by high prices for many species, including salmon, which experienced a 33% increase in export value, despite a 5% decrease in volume. Other species like cod, saithe, trout, and herring also saw price increases, with trout and saithe setting all-time record values. However, herring and mackerel volumes were down due to low inventories and quota reductions. The USA emerged as the largest growth market, followed by France and China, with the EU taking over from Asia as the flow of goods shifted due to logistical issues and increased costs. While the value of prawn exports fell by 5%, there was a 42% growth in frozen, peeled prawn to the UK, and a recovery in exports to Sweden as it reopened.

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Original content

Despite the tense global trade situation, the export value of Norwegian seafood has never been higher in a first quarter than in 2022. In the first three months of the year, Norway exported seafood worth NOK 34 billion. This is a growth in value of 22 per cent, or NOK 6.2 billion, measured against the first quarter last year.“A strong global demand for Norwegian seafood yielded record export value in the first quarter. It is nevertheless a demanding time to be engaged in global trade. A month of war has resulted in complicated flows of goods and more expensive logistics. Nevertheless, the Norwegian exporters have in an impressive way managed to supply the world with sustainable seafood from Norway”, says Renate Larsen, CEO of the Norwegian Seafood Council.Lowest export volume since 2016In addition to the tense global situation, bad weather, quota reductions and lower sea temperatures have combined to lower the export volumes of herring, mackerel and salmon.“We have the lowest ...

Source: Seafood