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Seafood exports of NOK 39 billion in 2008

Published by FiskerForum, 09-01-2009 · info@fiskerforum.dk

Norwegian seafood exports in 2008 totalled NOK 39.1 billion, setting a new record for seafood exports for the 5th year in a row. This is an increase of NOK 2.3 billion compared to 2007, according to figures from Statistics Norway and the Norwegian Seafood Export Council (NSEC). In terms of volume seafood exports in 2008 totalled NOK 2.3 million tonnes, an increase of 167,000 tonnes compared to 2007

“In a year which has been strongly impacted by the economic crisis, it is pleasing to see that the demand for Norwegian seafood, with the exception of cod, has remained strong,” comments managing director Terje E. Martinussen from the Norwegian Seafood Export Council. “But while noting that seafood has fared well despite the world economic turbulence, we expect 2009 to be a challenging year for the Norwegian seafood industry. The development shows that access to good systems for credit and export guarantee facilities also is of importance for the Norwegian Seafood Industry.”Russia and France our biggest marketsExports to Russia totalled NOK 4.05 billion, an increase of NOK 407 million compared to 2007. This positions Russia as our top market in 2008, marginally ahead of France at NOK 4.04 billion. Exports to France showed an increase of NOK 277 million compared to 2007.Aquaculture topped NOK 20 billionNorwegian exports of seafood from aquaculture increased by NOK 1.2 billion to NOK 20.2 billion, of which Norwegian Salmon accounted for NOK 18 billion and Norwegian Fjord Trout NOK 1.9 billion. This marks export records for both Norwegian Salmon and Norwegian Fjord Trout.Exports of seafood caught in the wild increased by NOK 1 billion to NOK 18.9 billion. Of this amount, herring and mackerel showed the biggest growth to NOK 3.8 billion and NOK 2.3 billion respectively. Norwegian Saithe set an export record of NOK 2 billion, an increase of NOK 253 million compared to 2007.Growth outside the EUExports to the EU in 2008 totalled NOK 23.2 billion, slightly up on 2007. The EU’s share of Norway’s seafood exports in 2008 was 59%, compared to 63% in 2007. Eastern Europe and Africa are the areas that showed the biggest growth in 2008. Exports to our neighbours in Eastern Europe increased by NOK 718 million to NOK 6.2 billion, while exports to Africa doubled in value from NOK 586 million in 2007 to a total of NOK 1.2 billion in 2008. Outside the EU, Nigeria and Japan are the markets with the biggest growth. Exports to Nigeria increased by 293 percent to NOK 700 million and exports to Japan increased by NOK 496 million to a total value of NOK 2.2 billion.Cod in declineExports of cod fell by NOK 681 million to NOK 5.5 billion. Virtually all cod product categories showed a decline, although the biggest drop was seen in exports of clipfish.- “2008 has been a particularly challenging year for the cod industry,” explains Terje E. Martinussen, managing director of the Norwegian Seafood Export Council. “Following 2007, when prices for cod were at record highs, a significant price correction was seen in 2008. With the economic crisis hitting home, consumers are switching from high-priced products to cheaper alternatives. Consequently there has been less demand for cod products.”Growth in exports of Norwegian Prawns and shellfishExports of Norwegian Prawns and shellfish in 2008 increased to a total of NOK 1.1 billion. Exports of Norwegian Prawns were up by NOK 113 million to NOK 658 million, while crab exports increased by NOK 169 million to NOK 353 million. The increase in crab industry exports is accounted for by exports of Norwegian red king crab.

Source: Norwegian Seafood Export Council

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