Norway exported seafood worth NOK 13,1 billion in May – saved by the weak krone

Seafood

Norway

Published Jun 5, 2023

Tridge summary

Norway exported NOK 13.1 billion worth of seafood in May. This is an increase of NOK 816 million, or 7 per cent, compared to the same month in 2022.“As in April, we also see a significant currency effect in May. The weak Norwegian krone alone contributed to an increase in export value of around NOK 1.5 billion last month. Without this currency development, there would have been a decline in export value.

Original content

The market situation has now become more demanding”, says Christian Chramer, CEO of the Norwegian Seafood Council. When measured in euros, export value fell by 8 per cent in May, while measured in dollars it fell by 5 per cent, compared to the same month last year.Increase in value due to currency effect and food inflation“The re-opening after the corona pandemic and subsequent high inflation all over the world have contributed to raising global food prices in the past year. Together with the weak Norwegian krone, this has resulted in a strong increase in the value of seafood exports”, says Chramer.So far this year, NOK 67.5 billion worth of seafood has been exported. This represents a growth of NOK 9.9 billion compared to the same period last year.May was the year's weakest export month measured in euros“Measured in Norwegian kroner, May was the year's second strongest export month measured in value. However, if we measure the value in euros, which is the currency in which we ...

Source: Seafood