Norway posted its highest-ever seafood export value in November, continuing a streak of value growth after a rocky start to 2024.
According to data compiled by the Norwegian Seafood Council, Norway exported seafood worth NOK 17.3 billion (USD 1.56 billion, EUR 1.48 billion ) in November 2024, a NOK 1 billion (USD 90 million, EUR 86 million), or 6 percent, increase over the same month in 2023. The positive month comes after an October which saw the country export NOK 18.5 billion (USD 1.67 billion, EUR 1.59 billion) worth of seafood, the highest total in a single month in the country’s history.
"We've seen several months in a row of solid growth in seafood exports, and this trend continued in November,” NSC CEO Christian Chramer said. “Thanks to price growth for salmon, mackerel, cod, haddock, and herring, this was the best November ever in terms of value.”
In July, Chramer predicted that Norway’s seafood exports could potentially have a tumultuous summer after a historic 18 percent drop in value in June. At the time, he said “there is no escaping that there are some dark clouds on the horizon.”
Despite his prediction, the country’s seafood export value rose slightly in July 2024 and then continued to rise year over year through 2024.
November 2024’s high export value was also not aided by a weak kroner, which in months past has buoyed the value of seafood exports.
“Compared to the same month last year, the Norwegian krone is slightly stronger against the euro but weaker against the U.S. dollar. In total, there is no currency effect, so the value growth is mainly driven by higher prices and increased volumes for some of our most important species,” Chramer said.
Charmer said that while the value is increasing, there are ...
