- Norwegian seafood exports totaled NOK 11.6 billion in September 2024, a 6% increase in value from last year.
- Salmon sales dominate the market, accounting for 70% of total exports, valued at NOK 31.8 billion.
- Farmed trout also saw record sales, with 25,033 tonnes sold, representing a 24% increase in value.
Norwegian seafood exports continued their impressive growth in September 2024, with total sales hitting NOK 11.6 billion. This increase marks a notable 6% rise in value compared to the same period last year.
Additionally, farmed trout has achieved record sales figures during the third quarter, reflecting a growing demand in various markets. Analyst Paul T.
Record Growth for Norwegian Seafood Industry: Q3 Highlights
The third quarter of 2024 has been remarkable for Norway’s seafood industry, with total exports reaching NOK 44.1 billion, marking a 5% increase from Q3 last year. Salmon exports accounted for the bulk of this growth, with 372,442 tonnes sold at a value of NOK 31.8 billion. As the sector continues to thrive, the country’s aquaculture practices have compensated for reductions in fishing quotas for species like cod and haddock.
Notably, farmed trout has also seen a surge in demand, achieving record sales of 25,033 tonnes and a total value of NOK 2 billion. This growth reflects a broader trend of increasing consumer preference for seafood. Countries such as Poland, Denmark, and the United States remain key markets, but emerging trends in Germany point to changing consumption patterns.
Industry experts attribute this record performance to various factors, including falling consumer prices, which enhance the competitiveness of seafood compared to other proteins. This decrease in price has allowed salmon to maintain its stronghold in the market, with growing domestic consumption aiding its popularity.
As the seafood sector continues to evolve, the emphasis on aquaculture and sustainable practices will likely play a crucial role in future growth. The Norwegian seafood industry’s resilience in adapting to changing market conditions positions it well for continued success.
Norwegian seafood exports are experiencing unprecedented growth, driven by strong salmon and trout sales, coupled with favorable market conditions that enhance competitiveness.
“At the same time, the consumer price is falling compared to the same period last year. This strengthens the competitiveness of salmon compared to other proteins.” — Paul T. Aandahl
