Norway's seafood exports slightly down in 2011 with Russia and France remaining the biggest single markets
In 2011, Norwegian seafood exports totalled NOK 53 billion. After seven years in a row of consistent growth, the Norwegian seafood industry reported a slight fall in the value of exports of 1.2% or NOK 644 million compared to the record-setting year of 2010. The volume of Norwegian seafood exports for the year as a whole totalled 2.3 million tonnes, minimally down by 339,000 tonnes compared to 2010, according to the latest figures from the Norwegian Seafood Council.
In 2011, Norwegian seafood exports totalled NOK 53 billion.
"2011 was a historic year for the traditional 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."
"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% 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%.
The USA 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% 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 Terje E. 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."