Exports of goods
14. Jun 2023
Exports in April 2023

Faroese exports of fish products increased by DKK 1.8 billion from April 2022 to March 2023 compared to the previous 12-month period.

The table below shows export figures for the May 2022-April 2023 period compared with the previous 12-month period. 

Export values increased across all fish species, but the overall export volume dropped by 5%.

The salmon export value increased by DKK 582 million (12%), while the export volume dropped by just over 10,000 tonnes (12%).

The 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 823 million (57%), while the export volume increased by 28%.

Saithe prices continue to rise, while the price of haddock has remained steady in recent months.

Exports of other goods, predominantly oil sold to foreign ships, increased by DKK 222 million (37%).


The table below shows fish export volumes from May 2022 to April 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. The upswing in the first months of 2023 is mainly due to DKK 125 million exports of capelin and DKK 60 million exports of vessels.


Exports of demersal fish to Russia have not stopped. In April 2023, exports of mackerel, herring and blue whiting to Russia amounted to DKK 19.8 million. This is a typical figure for the month of May.

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 21.7 million in April. Although this export value is slightly higher than in previous years, the export volume of fuels is slightly lower.


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