Norway's seafood exports to increase in the third quarter of 2024

In the third quarter of 2024, Norway's seafood exports experienced a 5% increase, reaching NOK 44.1 billion (USD 4.1 billion) despite quota cuts for various fish species. This growth is largely attributed to salmon, which accounts for 70% of the export value and saw an 8% increase in volume. Germany emerges as a key market, with salmon exports to the country rising by 32%. This growth is particularly significant given the challenges faced by the industry, such as rising production costs, sea temperature increases leading to sea lice problems, and competition. The quarter also marked the first time in over a year that fresh whole trout had a higher export price than fresh whole Pacific salmon.

The Norwegian Seafood Council (NSC) announced that Norway's seafood exports in the third quarter of 2024 reached NOK 44.1 billion (equivalent to USD 4.1 billion, EUR 3.7 million), up 5%, or NOK 2.2 billion (equivalent to USD 206 million, EUR 188 million), compared to the same period in 2023. After a decline in exports in the first half of 2024, this increase was enough to return Norway to a net export increase in the first three quarters of 2024. NSC CEO Christian Chramer said: Thanks to a record increase in export value in September 2024, the third quarter of 2024 saw the best growth ever, and this export value was not affected by any currency effects. The previous increase in export value was largely due to the weaker Norwegian krone, which caused some uncertainty in seafood exports in 2023 and largely accounted for the increase in the country's seafood export value in the second half of 2023. At that time, without currency effects, exports were relatively stable year-on-year ...