Record Seafood Exports from Norway in July

NOK 13.9 Billion in Exports

In July, Norway achieved a remarkable seafood export value of NOK 13.9 billion, reflecting an increase of NOK 1.1 billion or 8% from July of the previous year. According to Christian Chramer, CEO of the Norwegian Seafood Council, this exceptional performance is largely attributed to the high salmon volumes and significant value growth in exports to China.

Close to NOK 100 Billion Year-to-Date

Year-to-date, Norway’s seafood exports have reached NOK 99 billion, matching the total export value from all of 2018. “Even amidst challenging global trade conditions and tough market competition, Norwegian seafood remains in a strong position worldwide, even during the summer months,” remarks Chramer.

Market Highlights

The top three markets for Norwegian seafood exports in July were Poland, China, and the USA, with China showcasing the largest growth. The export value to China soared by NOK 613 million, or 88%, compared to the same month last year, totaling NOK 1.3 billion in July.

Salmon Drives Growth

Salmon exports were pivotal in driving sales, particularly to China. Chramer notes that record-high available volumes, alongside lower prices and emerging sales channels, significantly contributed to this positive trend. The top exported species to China in July included:

1. Salmon: NOK 763.9 million (+80%)
2. Greenland halibut: NOK 149 million (+88%)
3. Redfish: NOK 117.6 million (+90%)

US and Chinese Markets Compete

The USA, previously Norway’s largest seafood export market, saw continued growth but was overtaken by Poland and China in July. Norway exported NOK 1.1 billion worth of seafood to the USA, marking a 17% increase from July last year.

Salmon, King Crab, and Snow Crab Exports

Both salmon and trout exports bolstered returns significantly. Norway exported a record 136,054 tonnes of salmon worth NOK 10.2 billion, representing an 8% increase in value and a 28% growth in volume year-on-year. Salmon, trout, and king crab all played vital roles in this year’s export success.

Other Species Performance

The July report also highlighted strong performances in various seafood categories:

Trout

Norway exported 9,409 tonnes of trout, valued at NOK 697 million, a significant 11% increase in value over last year.

Fresh Cod

In July, Norway exported 2,055 tonnes of fresh cod, worth NOK 144 million, marking a 6% value increase despite a 12% decline in volume.

Frozen Cod and Clipfish

Norwegian frozen cod exports saw an increase in value, reaching NOK 194 million from 2,575 tonnes of products. Meanwhile, clipfish exports fell significantly, with a marked decrease in both volume and value.

Summary of Market Trends

In conclusion, July turned out to be an outstanding month for Norwegian seafood exports, driven predominantly by salmon and growth in key markets such as China and Poland. While there were dips in some categories like clipfish and herring, the overall export landscape remains robust. The projection for the remainder of the year appears optimistic, bolstered by continuing demand in both traditional and emerging markets.

Read more here.

Main Image © Norwegian Seafood Council