Norway exported seafood worth NOK 74.5 billion (EUR 7.7 billion; USD 8.3 billion) last year, which was 8 percent or NOK 5.8 billion (EUR 602.7 million; USD 649.2 million) more than the country’s previous record total, set in 2014.
"In a year with trade restrictions in several markets and an import embargo in Russia, the result was better than expected. A weak Norwegian krone, combined with good demand for fresh products in particular, contributed to a new export record for Norwegian seafood," said Terje Martinussen, managing director of the Norwegian Seafood Council (NSC).
Seafood exports to the EU reached NOK 50 billion (EUR 5.2 billion; USD 5.6 billion) for the first time, after a growth of 17 percent in 2015. The bloc is by far the most important market for the Norwegian seafood industry.
The NSC highlighted that another important characteristic of Norwegian seafood exports is that more than 60 percent of the total trade is in fresh products and this share is increasing.
"The growth in the EU and the United States in recent years also shows the importance of government and industry working well together in order to obtain access to markets. Good trade agreements are absolutely critical in order to achieve growth in new markets in the future," said Martinussen.
Norway exported seafood to 143 countries last year. Of these, Poland was the largest individual market, with exports totaling NOK 6.9 billion (EUR 717 million; USD 772.3 million).
While Poland has grown steadily as a consumer market, a substantial share of the exports to Poland go to processing and further distribution to the European market.
Denmark was the second largest market for Norwegian seafood, and like Poland it is an important market for processing and transshipment.
Norwegian exports to Denmark were NOK 6.4 billion (EUR 665.3 million; USD 716.3 million) in 2015, an increase of 27 percent or NOK 1.4 billion (EUR 145.5 million; USD 156.7 million) from the year before. This also made Denmark the largest growth market for Norway in 2015.
