January 16, 2020
Norwegian salmon exports top US$8 billion in 2019
Salmon remained as the largest species of fish exports from Norway, both in terms of volume and value as exports in 2019 reached 1.1 million tonnes, up 6% from 2018 and value increased 7% or NOK4.8 billion to NOK72.5 billion (US$8.18 billion).
Salmon accounted for 40.7% of total seafood export volume last year and 67.6% of total value.
"The weakening of the Norwegian kroner and increased demand for Norwegian salmon are the two main reasons for the increase in value in 2019", explained Paul T. Aandahl, seafood analyst with the Norwegian Seafood Council (NSC).
The year 2019 also marked the comeback of Norwegian salmon 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", said Victoria Braathen of the NSC in China.
Norway's total seafood exports last year, however declined by 3% to 2.7 million tonnes, although value, at NOK107.3 billion ($12.11 billion), increased 8% compared with 2018.
"Both the aquaculture and fisheries sectors have been instrumental in reaching record-level export value in 2019", said Renate Larsen, CEO of the NSC.
The relationship between aquaculture and fisheries has changed little from last year, with aquaculture representing 71% by value and 44.6% by volume, the NSC noted.
Fisheries account for 29% of total seafood exports in terms of value and 55.4% in volume.
Exports of fish from aquaculture increased 8% or NOK5.6 billion to NOK76.5 billion ($8.63 billion) in 2019 compared with 2018. Volume increased 7% to 1.2 million tonnes.
For fisheries, export value increased 10% or NOK 2.7 million year-on-year to NOK30.8 billion ($3.5 billion), while volume decreased 10% to 1.5 million tonnes.
CEO Larsen sees export value to double in the next decade, reaching NOK200 billion because of consumers' good perception of Norwegian seafood products.
"Our research and seafood studies show that consumers all over the world already perceive Norwegian seafood as safe, sustainable and of high quality", she said.