Record exports of Norwegian seafood in 2023 due to price growth and weak krone

Seafood

Norway

Market & Price Trends

Published Jan 4, 2024

Tridge summary

The export value of Norwegian seafood reached an all-time high in 2023, with seafood worth NOK 172 billion being exported from Norway. This was driven by weak Norwegian krone, and export value increased almost NOK 15 billion in 2023. Despite the increase in export value, the volume of seafood exports in 2023 decreased by 5% compared to the previous year, with salmon and cod experiencing a decline in volume.
Norway exported seafood to a total of 153 countries in 2023, with Poland, Denmark, and the USA being the largest markets. The value of these exports increased for prawns and halibut, while it decreased for snow crab.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The export value of Norwegian seafood reached an all-time high in 2023, with seafood worth NOK 172 billion being exported from Norway. This equates to 39 million meals being served every day, all year round. Compared to 2022, the export value increased by NOK 20.7 billion or 14 per cent.“2023 was the best value year ever for Norwegian seafood exports. Seafood is still one of Norway's most sought-after global trade goods and has firmly established itself as the country's second-largest export product, behind oil and gas”, says Christian Chramer, Managing Director of the Norwegian Seafood Council.Currency effect of NOK 15 billionAs of 2022, the Norwegian krone has weakened, resulting in solid seafood export growth when measured in NOK. However, the growth in euros and dollars, which are our most important trading currencies, was significantly less.“The weak Norwegian krone and the general price increase in the markets lifted the value to a record high level. In total, the ...

Source: Seafood