Norwegian seafood exports hit all-time record in 2024
Norwegian seafood exports reached a record level in 2024, with salmon once again the driving force.
The new record had been widely expected. Overall, Norway’s seafood exports totalled NOK 175.4bn kroner (£12.5bn or over £1bn a month). This represents an overall increase of 2% on 2023.
Overseas sales of farmed salmon last year totalled NOK 122.9bn (£8.6bn), also a record and representing 70% of all seafood exports.
This new milestone should hardly come as a surprise, as almost each month last year produced record results.
Seafood Council Chief Executive Christian Chramer said: “2024 was marked by quota cuts for cod, significant production challenges for salmon, geopolitical fluctuations and economic turmoil in the global market.
“When the value of seafood exports nevertheless rises to a historically high level, it is fantastically strong.”
Fisheries Minister Marianne Sivertsen Næss added: “Once again, Norwegian seafood exports have set new records, and I am impressed by everyone who has contributed. Norwegian seafood trade is a fantastic example of how sustainability can be combined with economic value creation.”
Growth in a challenging year
2024 was a demanding year for Norway’s salmon producers, with higher costs and various jellyfish and biological issues, CEO Chramer added.
“There was volume growth last year, but at the same time salmon prices fell. The strong value growth that we have had in recent years stopped in 2024,” he said.
Germany had the greatest value growth last year, with an increase in export value of NOK 539 million (£38m) while the volume at 47,724 tonnes was up by 12%.
The growth is due to several factors including increased domestic consumption and lower supplies from other nations are important reasons, explained Seafood Council analyst Paul T. Aandahl.
South Korea was also another strong growth market. Johan Kvalheim, the Seafood Council’s Japan and South Korea envoy said: “At the largest supermarkets, Norwegian salmon is the most popular fish, with Norwegian mackerel a close second.”
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