Norway’s seafood industry achieves record US$3.99B third quarter exports

NORWAY – Norway’s seafood sector is experiencing a historic third quarter, with exports reaching NOK 44.1 billion (approximately US$3.99B). 

This figure reflects an increase of NOK 2.2 billion (US$206,9M), or 5%, from the same timeframe last year, according to data released this week by the Norwegian Seafood Council.

The growth in export value is attributed to strong shipments of salmon, trout, mackerel, and prawns, with September marking a particularly significant month for export revenues.

In September alone, seafood exports amounted to NOK 16.7 billion (US$1.51 billion), making it the second-highest monthly export figure on record. 

Salmon exports reached 141,600 tonnes during this month, generating NOK 11.6 billion (USD 1.05B), representing a 6% increase compared to the previous year. 

Additionally, trout exports totaled 7,600 tonnes in September, bringing in NOK 625 million (US$56.6 million), which is a 15% rise in value.

Christian Chramer, CEO of the Norwegian Seafood Council, remarked that the impressive export performance in September has led to the best third quarter on record. 

He noted that this year’s results are not influenced by fluctuations in the Norwegian krone, as the comparison is with the same period from last year. 

High export volumes of salmon, trout, mackerel, and prawns have significantly contributed to this success.

Despite reductions in quotas for several key species, including herring, king crab, mackerel, and cod, Norway’s total seafood export value for 2024 has reached NOK 124.7 billion (US$11.29B). 

This represents an increase of NOK 626 million (US$56.7M) compared to last year.

Chramer highlighted that aquaculture, particularly in salmon production, has been vital in offsetting the impacts of lower quotas on export figures.

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