Exports of goods
18. Apr 2023
Export value approaching DKK 13 billion

Faroese exports of fish products increased by DKK 2.1 billion from March 2022 to February 2023 compared to the previous 12-month period.

The table below shows export figures for the March 2022 – February 2023 period compared with the previous 12-month period. 

The export value increased for all fish species, but the overall export volume dropped by 3%.

The salmon export value increased by DKK 831 million (17%), while the export volume dropped by just over 11,000 tonnes (13%).

The second-highest export value growth was registered in the ‘other fish species’ commodity group. This growth predominantly came from exports of fish feed and feed made from various fish species. The export value in this group increased by DKK 807 million (58%), while the export volume increased by 43%.

Cod exports increased by DKK 282 million (32%) in value and by 6% in volume. 

Cod and saithe prices continue to rise, while the price of haddock has remained steady since the summer of 2022.


The table below shows fish export volumes from March 2022 to February 2023 compared with the previous 12-month period.


Exports to Russia

Exports to Russia dropped significantly last spring. However, the export value has now returned to pre-February 2022 levels.

The graph below shows monthly exports to Russia and Europe.


Exports of demersal fish to Russia continue. In February 2023, exports of mackerel, herring and blue whiting to Russia amounted to DKK 105.4 million, compared to DKK 58.8 million in February 2022. 

As the graph below shows, export figures for demersal fish tend to fluctuate and are usually lower in the April-August period.


The ‘other products’ commodity group mostly consists of sales of fuel to Russian fishing vessels docking in Faroese ports. The export value in ‘other products’ amounted to DKK 12.4 million in February. This is a typical figure for February.


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