Norway’s seafood exports are continuing but there are signs things may be slowing down, according to the latest figures.
Total export value last month was NOK 13.3bn (just short of £1bn), an increase of 3% on last year.
The Norwegian Seafood Council said that thanks to large value growth for salmon, trout, cod and snow crab, export value in February was raised to a historically high level.
“The value of Norwegian seafood exports has now increased every month for three years, which has never happened before.”
The CEO of the Seafood Council, Christian Chramer, said: “The last time there was a decrease in export value was in February 2021. In each of the following 36 months, the value of Norwegian seafood exports increased, compared to the same months last year.
He added: “Despite the fact that during this period there was the corona pandemic, the outbreak of war in Europe and a weak economy,
“Norwegian seafood has experienced good market demand. In addition, the combination of high global price growth and a weak Norwegian krone contributed to the three-year increase in value.
When it came to salmon last month, there was a clear shift from whole fish to more processed products. The proportion of exported fillets has never been higher in a February before, Chramer said.
Total volume in February was 78,522 tonnes, down 3%, taking NOK 9.1bn (£679m) up 5% on a year.
Last month, the proportion of fillets in total exports reached its highest level on record. In terms of value, fillets and other processed salmon account for 30% of exports, said seafood analyst Paul T. Aandahl.
