Norway's Seafood Exports Surge Amidst Weakening Krone
Strong Demand, Currency Tailwinds Boost Export Growth
High Seafood Export Values in November
Norway's seafood industry is experiencing a surge in exports, driven by a favorable currency environment and robust demand. As of 2022, the Norwegian krone has weakened significantly, leading to solid export growth for the industry. On November 13th, seafood exports surpassed the full-year total for 2022, reaching NOK 1514 billion.
One notable contributor to the export surge is the increasing demand for salted fish. In May alone, Norway exported 4311 tonnes of salted fish valued at NOK 374 million. The weak Norwegian krone has made Norwegian seafood more competitive in international markets, with buyers eager to take advantage of the lower prices.
Norway, known as the world's leading producer of farmed salmon, has seen particularly high seafood export values in November. Exports totaled NOK 172 billion for the year, a 14% increase from the previous year. The industry has benefited from both the weak krone and strong global demand for seafood.
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