April 9, 2008

Norway reports sharp decline in seafood export value
 

Norway's seafood export value has fallen by more than NOK500 million (US$99 million) or 5.2 percent in the first quarter compared to the corresponding period in 2007.

Seafood export value in the first quarter marks a 5.2 percent drop of seafood export value to NOK9.3 billion (US$1.8 billion), a significant decrease of NOK521 million (US$103 million) compared to the first quarter in 2007.

Norwegian seafood producers exported fish and shellfish worth NOK2.9 billion (US$573.7 million) in March, down from NOK3.68 billion (US$728.3 million) in March 2007.

Sales of salmon and dried cod shrunk, while herring sales rose, with France and Russia as Norway's key export markets.

The robust Norwegian kroner has pushed up the price of Norwegian products, contributing to lower conversion rates into the kroner.