Despite the collapse of the Russian market, exports of Norwegian seafood set new records in 2014.
The total value of exports reached NOK 68.8 billion, up NOK 7.3 billion from 2013.
”Norwegian seafood has never enjoyed a stronger position in the world market. Despite the collapse of the Russian export market due to sanctions this year, the Norwegian seafood industry has shown it can adapt to meet the needs of new markets. The result has been record export figures for salmon, cod and mackerel”, says Terje E. Martinussen, Chief Executive of Norwegian Seafood.
The total export of NOK 68.8 billion (€7.5 billion) was 12 percent higher than in 2013.
Because of the Russian import ban that came into force on August 7, export to Russia reached only NOK 3.4 billion, a 48 percent decrease compared to 2013.
EU main market
The EU represents the main market for Norwegian seafood industry. In 2014, 62 percent of total Norwegian seafood exports were to EU countries, and the value amounted to NOK43 billion (€4.68 billion), up 16 percent compared to 2013, the Norwegian Seafood Council writes in a press release.
Norway exported salmon worth NOK 43.9 billion (€4.78 billion) in 2014. This is the highest export level ever for salmon and is an 11 percent gain on 2013. Sales to the EU, USA and Asia increased significantly, while sales to Eastern Europe – mainly Russia and Ukraine, fell by 37 percent.
As BarentsObserver reported, the price of salmon in Russla has soared since the import ban.
Also cod and mackerel were sold in record amounts to the world market in 2014.
In 2014, Norway exported seafood to approximately 143 different countries. Of these, Poland was the main export market. Poland has become an increasingly important consumer market, but a significant proportion of the exports to Poland are for processing operations and are then exported further afield than the European market.
France is the second largest market for Norwegian seafood in 2014, while the UK was the biggest growth market with an increase of 42 percent up on the year before. Norway exported seafood worth NOK 4 billion (€435.7 million) to the UK in 2014.
Related stories from around the North:
Canada: Is a fishing boom in the Arctic a sure thing?, Eye on the Arctic
Norway: Norway-Russia fishery expedition finds abundance of cod, decline in other species, Barents Observer
Russia: Oryong 501 sinking highlights Arctic fishing, shipping issues, Cryopolitics
United States: Alaska’s fishing industry on edge as Congress deadline approaches, Alaska Public Radio Network