Weak Norwegian krone triggers strong value growth for November seafood exports
Market & Price Trends
Published Dec 5, 2023
Norway exported seafood worth NOK 16.7 billion in November. This is an increase of NOK 2.4 billion, or 17 per cent, compared to the same month last year.“On 13 November, seafood exports surpassed the 2022 full-year export total of NOK 151.4 billion. November was a particularly good month for pelagic species. November was the second-best month for Norwegian seafood exports. This is an increase of NOK 2.4 billion, or 17 per cent, compared to the same month last year.
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This year, we expect the value of Norwegian seafood exports will exceed NOK 170 billion, for which we can largely thank the weak Norwegian krone”, says Christian Chramer, CEO of the Norwegian Seafood Council.So far this year, Norway has exported NOK 158.2 billion worth of seafood. This represents a value increase of 15 per cent compared to the same period last year.The Euro has strengthened by 14 per cent“The export value so far this year is approximately NOK 20 billion higher than at the same time last year. Almost two-thirds of this increase in value can be attributed to a weaker Norwegian krone. The euro, which is our most important trading currency, has strengthened by 14 per cent against the Norwegian krone in the past year”, explains Chramer.Increase in demand for salmonMeasured in value, November was the second-best month for Norwegian seafood exports. Only the value from October has been higher.“November was a particularly good month for salmon. Increased volume and higher ...