Norwegian seafood producers exported NOK 109 billion worth of product in the first nine months of 2022 setting new records for the industry

Norwegian seafood producers exported NOK 109 billion worth of product in the first nine months of 2022 setting new records for the industry

Norway exported NOK 109 billion (€10.5bn/£9.2bn) worth of seafood in the first nine months of the year. It is a new record, with a growth of 29 percent, or NOK 24.3 billion (€2.3bn/£2bn), compared to the same period last year.

“The growth in value for Norwegian seafood exports has been impressive this year, and in September, we passed the NOK 100 billion mark. Historically high prices are one of the reasons why the third quarter produced the highest ever export value for Norwegian seafood,” says Christian Chramer, the CEO of the Norwegian Seafood Council.

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“The record-breaking value for the first nine months of the year confirms the seafood industry’s position as the country’s second most important export industry. The whole of Norway can benefit from the activity and value created along our coastline. The government has set a target of at least a 50 per cent increase in Norwegian exports, excluding oil and gas, by 2030. This year’s export figures show that the seafood industry will be an important contributor to achieving this target,” says Bjørnar Skjæran, Fisheries and Oceans Minister.

The best quarter ever

In the third quarter of 2022, Norway exported NOK 39 billion (€3.7bn/£3.2bn) worth of seafood, the highest value ever in a quarter. The previous record was NOK 36.1 billion (€3.4bn/£3bn), set in the fourth quarter of 2021.

“Norwegian seafood has maintained its strong global position both through the corona pandemic and the demanding times we find ourselves in now. Increased production costs, challenging logistics and soaring food inflation in our most important markets have raised seafood prices. Still, at the same time, we are facing uncertain times when purchasing power weakens, and markets are changing rapidly,” says Chramer.

Salmon experts were the biggest winner with 355,000 tonnes of salmon exported worth NOK 28 billion (€2.68bn/£2.35bn) in the third quarter.

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Norwegian seafood exports setting new records in first nine-month of 2022

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