Norway's seafood exports reach record high in 2023

Norway's seafood exports soared to unprecedented heights in 2023, achieving a record value of 172 billion Norwegian kroner (16.68 billion U.S. dollars), reported Xinhua.

This marks an increase of 14 percent, or 20.7 billion Norwegian kroner, compared to the previous year, reported the Norwegian Seafood Council on Thursday.

Christian Chramer, the organization's managing director, said: "2023 emerged as the most lucrative year in history for our seafood exports. Seafood remains a globally coveted commodity from Norway, securing its position as the nation's second-largest export after oil and gas."

The weakening of the Norwegian krone since 2022 has significantly boosted export growth in kroner terms. However, this growth was less pronounced when evaluated in euros or U.S. dollars, which are Norway's primary trading currencies.

"The combination of a weaker krone and general market price hikes propelled the export value to this record level. Notably, the kroner's devaluation contributed nearly 15 billion Norwegian kroner to this year's export value," said Chramer.

Norway's Minister of Fisheries and Ocean Policy Cecilie Myrseth emphasized the strength of Norwegian seafood internationally. "From individual shark fishermen to staff at our largest aquaculture facilities, everyone in the industry can take pride in this success," she said.

Nevertheless, Norway's total seafood exports in terms of volume dropped to 2.8 million metric tons in 2023, a decrease of 5 percent from 2022.

Myrseth stressed that the decline in domestic seafood consumption is a pressing concern. "With seafood consumption at an all-time low in Norway, we must invigorate local demand. Given its sustainability and health benefits, it's imperative to reverse this trend and increase our seafood intake," she said.

In 2023, Norway exported seafood to 153 countries and regions, six more than in the previous year. Poland, Denmark, and the United States were the top markets for Norwegian seafood.

Notably, China emerged as the eighth-largest global market, and the foremost in Asia for Norwegian seafood. In 2023, it imported goods worth 8.5 billion Norwegian kroner, an 18 percent increase from 2022.