Norwegian fish and seafood exports reached an all-time high in 2023, with a total value of US＄ 16,558,078,800.00 (around 172 billion in Norwegian kroner). This equates to 39 million meals served every day, year-round. This result represents growth of 14% compared to the previous year.
“2023 was the year with the best value for Norwegian fish and seafood exports. They are one of Norway’s most sought-after commercial products and today represent our country’s second largest export after oil and gas,” says Christian Chramer, director general of the Norwegian Fisheries Council.
One of the points to be analyzed for this result is based on exchange rate issues: the weakening of the Norwegian currency compared to the global market.
“The fall in the value of the Norwegian krone and the general rise in prices on world markets have driven its value to a record level. In total, the devaluation of the local currency contributed to increasing the value of exports by almost 15 billion Norwegian kroner in 2023”, explains Christian Chramer.
Despite this exchange rate issue, it is important to recognize the global value that this segment has. Norwegian fish and seafood exports in 2023 totaled 2.8 million tonnes, 5% lower compared to 2022. The two most significant species within this amount were salmon and cod.
“While the weakening of the Norwegian krone is the main reason for the increase in total export value, the results also show how strong the Norwegian product is internationally. The fishing industry has every reason to be proud of this – from the small fisherman to the largest aquaculture facilities”, says Norwegian Minister of Fisheries and Ocean Policy, Cecilie Myrseth.
Increase in exports to Brazil
In 2023, the value of exports to the Brazilian market grew significantly by 43%, which represents an increase of around US＄ 39,180 million (around NOK 401 million) compared to the previous year. Export volume to Brazil increased by 28%, reaching 19,136 tons. There was growth in volume and value of cod and dried salted fish, with cod showing the most significant growth.
