Norwegian seafood exports hit a record $11.56 bn in 2018

Fish & Seafood

Norway's seafood exports totaled 2.7 million tonnes in 2018, reaching thus a record value of NOK 99 billion ($11.56 billion) in 2018, according to the Norwegian Seafood Council.

Posted on Jan 09 ,13:38

Norwegian seafood exports hit a record $11.56 bn in 2018

This represented a 5% increase in terms of value and a rise in volume of 5% compared to the record level reported in 2017.

"In summary, records were broken for Norwegian seafood, both in terms of export value and export volume in 2018. This despite Brexit, the threat of trade wars and other challenges that have together created unpredictability in the world market. Seafood exports to the EU market have increased due to lower competition and a favourable currency situation against the euro. We see a decline in seafood exports to Asia, as a result of increased competition and continued challenging market access to China," says Renate Larsen, CEO of the Norwegian Seafood Council.

Over the past 10 years, the value of Norwegian seafood exports has increased by 156 per cent.

Last year, Norway exported 1.7 million tonnes of seafood to the EU which were worth NOK 66 billion. Seafood exports to the bloc increased by 8% compared to 2017.

Poland was Norway's largest single market measured in export value in 2018, with 228,000 tonnes of seafood worth NOK 10.2 billion in 2018. This represents a volume increase of 17 per cent and an increase in export value of NOK 1.3 billion or 14 per cent compared to 2017.

Salmon has the largest share of any species measured in terms of both export volume and export value. Norway has exported 1.1 million tonnes of salmon worth NOK 67.8 billion in 2018. This is a volume increase of 5 per cent, and an increase in value of NOK 3.2 billion or 5 per cent from 2017.

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