Decline in Norwegian Fish Exports. The Growing Role of Europe and Asia

Norway has published January statistics on seafood exports. The value of foreign sales was lower than a year earlier. The decline mainly concerns the USA. At the same time, the importance of other export markets is growing. The data comes from the Norwegian Seafood Council.

In January, Norwegian fish and seafood exports reached a value of NOK 14.8 billion. This is NOK 416 million less than a year earlier, marking a 3 percent decrease. The American market had the greatest impact.

In January, exports to the USA were 37 percent lower year-on-year. This was due to the expiration of some contracts and difficulties in negotiating new deals. A 15 percent customs tariff also played a significant role. An additional factor was the weak dollar exchange rate.

Salmon remains the largest export product. In January, 112,092 tons worth NOK 10.4 billion were exported. Trout exports amounted to 5,942 tons and NOK 560 million. The value of sales fell by 18 percent.

The opposite situation applies to cod. Fresh cod exports reached NOK 316 million, an increase of 20 percent. High prices are the result of low fishing quotas. Fishermen are benefiting, but processors and buyers are facing higher costs.

At the same time, exports to other countries are increasing. The value of sales to Poland rose by 55 percent, and to China by 8 percent. These markets mainly buy whole fish, not fillets. Salmon production remains high, which puts pressure on prices. The industry is preparing for a difficult year and a shift in export directions.