Norwegian seafood exports break file and method $15.29 billion in 2022

São Paulo – 2022 was the most effective yr ever for Norwegian seafood exports. The nation exported 2.9 million tons value about US$15.29 billion. This quantity represents a 25% enhance over 2021, which was additionally a file yr for negotiations.

“Norwegian fish exports had a traditionally sturdy yr. This achievement comes at a time marked by warfare in Europe, galloping power costs, skyrocketing inflation and weakening international buying energy. On account of troublesome and troubled occasions we’re seeing sharp value will increase, which final yr resulted in file costs for key species comparable to salmon, cod, mackerel, trout, saithe and herring,” feedback Christian Chramer, Managing Director of Norwegian Fisheries Council / Norwegian Seafood Council.

a brand new aim

“Norwegian seafood has reached one other milestone. Behind the worth of exports of about 15.2 billion US {dollars} there may be lots of work and the entire chain has to share the credit score. We’re in troublesome occasions with excessive meals costs because of the warfare in Ukraine and the results of the pandemic. Though the worth of exports has elevated considerably, the general quantity has remained unchanged.

The truth that exports are nonetheless doing so properly exhibits that the seafood and fish trade is adaptable, with good professionals working all through the chain and supplying merchandise on demand. That is excellent news for Norway and I’m assured that exports will develop,” says Bjørnar Skjæran, Minister of Fisheries and Oceans.

Smaller export quantity

The export file in values ​​happens regardless of decrease export volumes of a number of species comparable to salmon, herring, mackerel, cod, king crab and arctic crab.

“For salmon, cooler sea temperatures negatively impacted slaughter in 2022. As for our wild-caught species, important portions of herring had been utilized in 2022 for the manufacturing of fishmeal and fish oil in Norway, whereas we had decrease quotas for cod. That is the first rationalization for the amount drop,” says Chramer.

Salmon exports arrive in america 10.1 billion

Credit score: NSC/Tom Haga

There have been main milestones in Norway’s seafood exports in 2022. For the primary time, the nation exported greater than $US$10.1 billion per thirty days all year long. Additionally, for the primary time, salmon exports exceeded this determine.

“Over the previous ten years, Norwegian salmon has skilled an annual progress in export worth of 14%. These are improbable numbers and much greater than different exports from mainland Norway,” says Christian Chramer.

Moreover, in 2022, salmon accounted for the biggest share of Norwegian fish exports, with 70% of the entire worth. Adopted by cod (8%), mackerel (4%), trout (3%), herring (3%) and shellfish (1%).

Norwegian seafood is a strong international product, bought in 149 markets in 2022. Our salmon is cherished all over the world. The cod commerce is strong in Europe, whereas mackerel dominates in Asia. Our seafood is nearly sacred in markets like Portugal and Brazil and increasingly persons are being attentive to Norwegian seafood“, diz Christian Chramer.

The worth of exports has doubled in seven years

Exports have had sturdy progress in worth in recent times. In 2015, Norway exported US$7.47 billion value of fish. In seven years, that determine doubled. Christian Chramer, nonetheless, factors out that Norway can not 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 customers’ buying energy in markets weakening and competitors from different nations and different sources of protein stiffening,” says Chramer.

Many challenges for the fish and seafood section

Norwegian fish and seafood producers are additionally impacted by elements comparable to rising gas and power prices, which elevated final yr.

“Though the entire worth of Norwegian exports was a file in 2022, buying and selling situations had been troublesome for a lot of producers. Now we have to maintain this in thoughts at a time when there may be lots of concentrate on export data,” emphasizes the CEO of the Norwegian Fisheries Council.

Forex results had been minor in 2022

The Norwegian krone has additionally weakened in recent times. This reality has an impression on greater export costs measured in Norwegian kroner, resulting in a good change price impact for Norwegian fish and seafood exports and additional enhance in worth.

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

Largest import markets by worth in 2022*

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

* In comparison with 2021

Most exported species in 2022 values*

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

* In comparison with 2021

Evolution by quarter 2022*

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

* In comparison with 2021

Progress within the billions for cod and dried salted fish

  • Norway exported 85,174 tonnes of cod value US$565.6 million in 2022
  • The expansion in values ​​was US$101 million, equal to 23%, in comparison with 2021
  • Export quantity decreased by 6%
  • Portugal, Brazil and Congo-Brazzaville had been the biggest markets for cod in 2022

Final yr, there was a file worth of cod exports, $81.3 million greater than the earlier file yr, which was 2019.

Portugal skilled a pointy enhance in worth in 2022, with a rise of US$51 million, or 27%, in comparison with the earlier yr. The amount of exports to Portugal was 23,270 tons, 5% lower than in 2021.

Portugal is a key marketplace for cod exports from Norway

“Portugal consolidates its place as an important cod market in Norway. By way of worth, 33% of our cod exports went to the nation in 2022. By way of amount, round 78% of exports went to Portugal,” says analyst Eivind Hestvik Brækkan from the Norwegian Fisheries Council .

Brazil additionally recorded good progress in export worth final yr. There has, nonetheless, been a shift in direction of greater exports of dried salted fish and decrease exports of cod and sailfish. Out of a complete quantity of fish exported to Brazil of 15,000 tons final yr, 9,000 tons had been dry-salted saithe, whereas solely 3,100 tons had been cod cuts,” says Brækkan.

Salted fish exports have grown in worth and quantity

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

Salted fish recorded the best share progress in worth amongst typical merchandise in 2022. It was additionally the one product on this class to extend in quantity.

The Norwegian Fisheries Council works with the Norwegian fisheries and aquaculture industries to develop Norwegian fish and seafood markets via native market intelligence, market growth and reputational danger administration.

Based mostly in Tromsø, the establishment maintains native representatives in 12 of Norway’s most necessary worldwide markets. The Norwegian fish and seafood trade funds the actions of the Norwegian Fisheries Council via a tariff on all Norwegian fish and seafood exports.

The Norwegian Fisheries Council is a public firm belonging to the Ministry of Commerce, Trade and Fisheries.

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