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Despite Values Down, Exports Still Strong

05 January 2012, at 12:00am

NORWAY - After seven years in a row of consistent growth, the Norwegian seafood industry reported a slight fall in the value of exports, however it is important to note that this was a fall of only 1.2 per cent compared to the record-setting year of 2010.

2011 Norwegian seafood exports totalled NOK 53 billion. The volume of Norwegian seafood exports also fell slightly, according to the latest figures from the Norwegian Seafood Council.

Fisheries

”2011 was a historic year for the fisheries industry, with exports valued at a total of NOK 22 billion,” points out managing director Terje E. Martinussen from the Norwegian Seafood Council.

“This is an increase of NOK 1.7 billion and marks the best ever year for this sector of the industry.”

Aquaculture

“The value of aquaculture industry exports in 2011 totalled NOK 31 billion, down by NOK 2.3 billion compared to 2010. This fall is attributable to a decline in prices in the second half-year of 2011. Seen in a historical perspective, however, the result is still very high and is second only to the record year of 2010."

“Given the international competitive situation, the Norwegian seafood industry can be generally very pleased with the export figures achieved for the year 2011.”

Russia and France the biggest markets

The value of exports to the EU in 2011 totalled NOK 30.5 billion, down by NOK 366 million compared to the previous year. The EU is the most important market region for the Norwegian seafood industry, accounting for 57.5 per cent of total exports.

The value of exports to Russia in 2011 was NOK 5.2 billion. This positions Russia as Norway’s most important single market in 2011, while France retains a clear second place with exports valued at NOK 5.1 billion.

The Japanese market showed the biggest growth in 2011, up in value by NOK 404 million or 16 per cent.

The US showed the biggest decline in the value of seafood exports, down by NOK 1.04 billion to a total of NOK 1.7 billion.

Aquaculture still the biggest sector

As a result of the steep fall in Norwegian Salmon prices in the middle of 2011, exports of farmed Norwegian seafood were down in value for the year by NOK 2.3 billion to a total of NOK 31 billion. Consequently, aquaculture accounted for 58.5 per cent of total seafood exports from Norway in 2011.

The value of exports of Norwegian Salmon for the year totalled NOK 29.2 billion, while the value of exports of Norwegian Fjord Trout for the year totalled NOK 1.4 billion. The value of exports of other species of farmed fish totalled NOK 400 million.

“After a period of exceptionally high salmon prices during the latter half of 2010 and the first half of 2011, prices have now stabilised at the level seen in the years prior to 2010,” adds Mr Martinussen. “This makes Norwegian Salmon more competitive and as a result we are now seeing an increase in consumption of Norwegian Salmon in a number of key markets.”

Record fishery year

With one of the best management regimes in the world, the traditional Norwegian fishery sector achieved a record export value in 2011 of NOK 22 billion. This is an increase of NOK 1.7 billion compared to 2010. Exports of Norwegian haddock, saithe, herring and mackerel all set new records in 2011.

  • The value of exports of Norwegian Cod increased by NOK 431 million to NOK 6.1 billion.
  • The value of exports of Norwegian herring increased by NOK 500 million to NOK 4.2 billion.
  • The value of exports of Norwegian mackerel increased by NOK 487 million to NOK 3.5 billion.
  • The value of exports of Norwegian Saithe increased by NOK 59 million to NOK 2.2 billion.
  • The value of exports of Norwegian Cod clipfish increased by NOK 135 million to NOK 2.1 billion.
  • The value of exports of Norwegian haddock increased by NOK 206 million to NOK 1.5 billion.
  • The value of exports of Norwegian Saithe clipfish increased by NOK 58 million to NOK 1.3 billion.
  • The value of exports of salted Norwegian Cod increased by NOK 110 million to NOK 891 million.
  • The value of exports of whole Norwegian stockfish increased by NOK 33 million to NOK 644 million.

Minister of Fisheries, Lisbeth Bergen said: "It is not a surprise that our seafood industry is performing well. Our seafood is a quality product delivered by a skilled industry.

"It is impressive that 2011 exports are only one per cent lower than our export record year - 2010."

As of January 1 2012, the Norwegian Seafood Export Council became known as the Norwegian Seafood Council. The name change is to demonstrate that the organisation works with seafood consumption in the Norwegian market as well as abroad.

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