Norway exported 2.7 million metric tons (MT) of seafood products worth NOK 107.3 billion (USD 12.2 billion, EUR 10.9 billion) last year, with increased sales totals in both the aquaculture and fisheries sectors contributing to a new all-time high value.
Norwegian aquaculture supplied 1.2 million MT of exports worth NOK 76.5 billion (USD 8.7 billion, EUR 7.8 billion), with the volume and value increasing by 7 percent and 8 percent, respectively. The fisheries sector provided a further 1.5 million MT worth NOK 30.8 billion (USD 3.5 billion, EUR 3.1 billion), representing a 10 percent reduction in volume but a 10 percent increase in value. As such, aquaculture accounted for 71 percent of the total export value and 44.6 percent of the volume, while fisheries provided 29 percent of the value and 55.4 percent of the volume.
The Norwegian Seafood Council (NSC) said, in addition to a weak Norwegian krone and improved market access, prices had risen for several of the country’s most important commercial species.
“In sum, this has led to strong demand and higher prices for Norwegian seafood,” NSC Director of Market Insight Tom-Jørgen Gangsøn said.
Salmon continued to be Norway’s largest export species in both volume and value last year, with 1.1 million MT generating overseas sales of NOK 72.5 billion (USD 8.2 billion, EUR 7.4 billion), up 6 percent and 7 percent year-on-year, respectively.
In addition to the favorable exchange rate and increased demand for Norwegian salmon, the NSC highlighted that 2019 saw a “significant increase” in seafood sales to China. In value terms, exports to the country increased by 40 percent year-on-year to NOK 5.2 billion (USD 590.3 million, EUR 528.2 million), making it Norway’s seventh-most important market last year.
"2019 was the year where Norwegian salmon made its comeback in the Chinese market. Throughout the year, market access has bettered terms for Norwegian players with interest in the Chinese market. We expect the positive trend to continue for 2020,” NSC’s representative in China, Victoria Braathen, said.
Within Norway’s fisheries sector, cod was the largest species in value terms, with exports totaling 181,000 MT and NOK 10.1 billion (USD 1.1 billion, EUR 1 billion). This export volume was down by 8 percent due to reduced quotas, but the value increased by 7 percent compared to 2018 thanks to a large rise in prices.
While there was dramatic growth in Norway’s seafood trade with China, the E.U. continued to provide its largest market. Exporters shipped 1.6 million MT of products worth NOK 68 billion (USD 7.7 billion, EUR 6.9 billion) to the bloc. This represented annual rises in volume and value of 7 percent and 4 percent, respectively.
At the same time, 506,000 MT of seafood worth NOK 21.4 billion (USD 2.4 billion, EUR 2.2 billion) was exported to Asia, with the volume and value up 6 percent and 21 percent, respectively. Meanwhile, Eastern Europe bought in 168,000 MT of Norwegian seafood valued at NOK 4.3 billion (USD 488.2 million, EUR 436.8 million), which was a 2 percent lower volume than in 2018, but a 19 percent higher value.
Overall, Poland was Norway’s largest single market in terms of export value, with the country buying in 230,000 MT of seafood totaling NOK 10.6 billion (USD 1.2 billion, EUR 1.1 billion), up 1 percent and 4 percent respectively. In value terms, Denmark followed with NOK 9.2 billion (USD 1 billion, EUR 934.5 million) – an increase of 8 percent compared to 2018.
The NSC also believes that Norway’s seafood sector could achieve much more growth over the next decade – potentially doubling the export value by 2030.
“Particularly among the younger population we see an increasing trend where climate, environment, and health are increasingly important. Consequently, there is an increasing willingness to pay for sustainable food in most markets,” NSC CEO Renate Larsen said. “Our research and seafood studies show that consumers all over the world already perceive Norwegian seafood as safe, sustainable, and of high quality. If we are able to position Norwegian seafood as the most sustainable option, our calculations indicate that the export value can potentially double in the next decade, reaching NOK 200 billion (USD 22.7 billion, EUR 20.3 billion).”
Photo courtesy of Andrey Armyagov/Shutterstock
