Norwegian seafood exports hit new high

NORWEGIAN seafood exports reached a record 74.5 billion Norwegian kroners (NOK) during 2015, NOK 5.8 billion more than the previous year, with farmed salmon again taking the lead role.

In fact, farmed salmon and trout accounted for around two thirds of this impressive total.

Terje E Martinussen, managing director of the Norwegian Seafood Council, said: ‘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.’

Seafood exports to the EU have reached NOK 50 billion for the first time, after a growth of 17 per cent in 2015.

The EU takes in 67 per cent of total seafood exports, and it is decidedly the most important market for the Norwegian seafood industry.

Another important characteristic of Norwegian seafood exports is that more than 60 per cent is fresh product 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,’ said Martinussen.

‘Good trade agreements are absolutely critical in order to achieve growth in new markets in the future.’

Norway exported salmon and trout worth NOK 50 billion in 2015, another record and an increase of more than eight per cent or NOK 3.9 billion on 2014 figures.

The country exported codfish worth NOK 13 billion in 2015, another record, and an increase of eight per cent.

Norway exported shrimp, shellfish and molluscs worth NOK 1.5 billion in 2015, up 52 per cent from 2014.