Norway’s fish exports break data and strategy USD 15.29 billion in 2022

São Paulo – 2022 was the most effective 12 months ever for Norwegian seafood exports. The nation exported 2.9 million tonnes value about US$15.29 billion. This quantity represents a 25% improve in comparison with 2021, which was additionally a document 12 months for negotiations.

“Fish exports from Norway had a traditionally sturdy 12 months. This consequence comes at a time marked by warfare in Europe, galloping vitality costs, skyrocketing inflation and weakening international buying energy. Because of the troublesome and turbulent instances, we’ve seen a pointy improve in costs, which final 12 months resulted in document costs for vital species corresponding to salmon, cod, mackerel, trout, cod and herring,” feedback Christian Chramer, CEO of Norwegian Fisheries. Council / Norwegian Seafood Council.

a brand new milestone

“Norwegian seafood has reached one other milestone. There’s quite a lot of work behind the export worth of round USD 15.2 billion and the entire chain has to share within the credit score. We’re in troublesome instances with excessive meals costs because of the warfare in Ukraine and the consequences of the pandemic. Though the worth of exports elevated considerably, the whole quantity remained the identical.

The truth that exports are nonetheless doing so effectively reveals that the seafood and fish trade is adaptable, with good professionals working throughout the chain and delivering merchandise on demand. That is excellent news for Norway and I hope exports will develop,” says Bjørnar Skjæran, Minister for Fisheries and Oceans.

Decrease export quantity

The export document in values ​​comes regardless of decrease export volumes of a number of species corresponding to salmon, herring, mackerel, cod, king crab and snow crab.

“For salmon, decrease sea temperatures negatively affected slaughter in 2022. As for our wild species, a big quantity of herring was utilized in Norway in 2022 to provide fishmeal and fish oil, whereas we had decrease quotas for cod. That is the primary clarification for the drop in quantity,” says Chramer.

Salmon exports come to the US 10.1 billion

Credit score: NSC/Tom Haga

In 2022, there have been vital milestones within the export of fish from Norway. The nation exported greater than US$10.1 billion monthly for the primary time in a full 12 months. As well as, salmon exports exceeded this quantity for the primary time.

“Norwegian salmon has seen an annual improve in export worth of 14% during the last ten years. These are incredible numbers and much forward of different exports from the Norwegian continent,” says Christian Chramer.

Moreover, in 2022, salmon accounted for the biggest share of Norwegian fish exports, at 70% of the whole worth. That is adopted by cod (8%), mackerel (4%), trout (3%), herring (3%) and shellfish (1%).

Norwegian seafood is a strong international commodity, offered in 149 markets in 2022. Our salmon is cherished everywhere in the world. Cod commerce is strong in Europe, whereas mackerel dominates in Asia. Our seafood is sort of sacred in markets like Portugal and Brazil – and increasingly individuals are being attentive to Norwegian seafood“, says Christian Chramer.

The export worth has doubled in seven years

Exports have seen sturdy worth progress lately. In 2015, Norway exported 7.47 billion value of fish to the US. In seven years, this quantity has doubled. However Christian Chramer emphasizes that Norway can’t take future export progress with no consideration.

“World commerce is closely affected by the warfare in Ukraine, the rise in commerce boundaries and the continuing pandemic. That is taking place in parallel with the weakening of client buying energy within the markets and rising competitors from different nations and different sources of protein,” says Chramer.

Many challenges for the fish and seafood section

Norwegian fish and seafood producers are additionally affected by components corresponding to rising gas and vitality prices, which elevated final 12 months.

“Though the whole worth of Norwegian exports was a document in 2022, enterprise situations had been difficult for a lot of producers. We now have to maintain this in thoughts at a time when there may be quite a lot of emphasis on export data,” emphasizes the Director Normal of the Norwegian Fisheries Board.

Forex impacts had been smaller in 2022

In recent times, the Norwegian krone has additionally weakened. This reality has an affect on greater export costs measured in Norwegian kroner, which brings a good change fee impact on Norwegian fish and seafood exports and an extra improve in worth.

“In 2022, nonetheless, the devaluation of the koruna slowed down. A stronger greenback helped increase exports to the US, whereas the euro weakened considerably towards the Norwegian krone. Collectively, for all markets, adjustments in change charges contributed little to rising the worth of exports from 2021 to 2022,” says Christian Chramer.

Largest import markets by worth in 2022*

  1. Poland: US$1.56 billion (+24%)
  2. Denmark: US$1.27 billion (+22%)
  3. USA: US$1.18 billion (+46%)
  4. France: US$ 1.07 billion (+29%)
  5. Holland: US$ 949 million (+34%)
  6. United Kingdom: US$787.8 million (+27%)
  7. Spain: US$737.3 million (+21%)
  8. China: US$ 737.3 million (+45%)
  9. Italy: US$ 666.6 million (+30%)
  10. Portugal: US$494.9 million (+38%)

*In comparison with 2021

Most exported species in 2022 values*

  1. Salmon: US$10.6 billion (+30%)
  2. Cod: US$ 1.2 billion (+25%)
  3. Mackerel: US$636.3 million (+7%)
  4. Trout: US$505 million (+24%)
  5. Herring: US$393.9 million (-9%)
  6. Satire: US$ 363.6 million (+44%)

*In comparison with 2021

Growth for quarter 2022*

  • Three 1: US$ 3.434 billion (+22%)
  • Three 2: US$ 3.636 billion (+39%)
  • Three 3: US$ 3.888 billion (+24%)
  • Three 4: US$ 4.343 billion (+19%)

*In comparison with 2021

Enhance in billions for cod and dried salted fish

  • Norway to export 85,174 tonnes of cod value USD 565.6 million in 2022
  • Worth progress was $101 million within the US, or 23%, in comparison with 2021
  • Export quantity decreased by 6%
  • The biggest markets for cod in 2022 had been Portugal, Brazil and Congo-Brazzaville

Final 12 months noticed document cod exports, US$81.3 million greater than the earlier document 12 months in 2019.

Portugal noticed a pointy improve in worth in 2022, with a rise of $51 million, or 27%, in comparison with the earlier 12 months. The export quantity to Portugal was 23,270 tonnes, which is 5% lower than in 2021.

Portugal is a key marketplace for cod exports from Norway

“Portugal is consolidating its place as an important cod market in Norway. Measured by worth, 33% of our cod exports went to the nation in 2022. When it comes to amount, round 78% of exports went to Portugal,” says analyst Eivind Hestvik Brækkan from the Norwegian Fisheries Council.

Brazil additionally had good export worth progress final 12 months.” Nevertheless, there was a shift in direction of greater exports of dried salted fish and decrease exports of cod and sailfish. Out of a complete of 15,000 tonnes of fish exported to Brazil final 12 months, 9,000 tonnes had been black cod, whereas solely 3,100 tonnes had been items of cod,” says Brækkan.

The worth and quantity of salted fish exports grew

  • Norway to export 28,755 tonnes of salted fish value US$191.9 million in 2022
  • The quantity elevated by US$71.2 million, or 59%, in comparison with 2021.
  • The export quantity elevated by 16 p.c
  • Portugal, Spain, and Italy had been the biggest markets for salted fish in 2022

Salted fish had the best proportion improve in worth amongst standard merchandise in 2022. It was additionally the one product within the class to develop in quantity.

The Norwegian Fisheries Council works with the Norwegian fisheries and aquaculture trade to develop markets for Norwegian fish and seafood by way of native market info, market growth and reputational danger administration.

This establishment is predicated in Tromsø and maintains native representatives within the 12 most vital worldwide markets for Norway. The Norwegian fish and seafood trade funds the actions of the Norwegian Fisheries Board by way of a tariff on all Norwegian fish and seafood exports.

The Norwegian Fisheries Board is a public firm underneath the Ministry of Commerce, Trade and Fisheries.

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