Exports of goods
 16. Apr 2025
Exports of fish meal and fish oil drop by almost DKK 1 billion

Total exports from March 2024 to February 2025 amounted to DKK 12.5 billion. This is around DKK 340 million less than in the previous 12-month period.

The tables below show export figures for the March 2024 - February 2025 period compared with the previous 12-month period.

Fish exports fell by DKK 443.1 million (3.7%). The past year has seen increased exports of some fish species such as salmon, haddock, saithe and mackerel, while exports of most other fish species have decreased.

Salmon exports rose by DKK 52.8 million in this period. The export value of salmon remains relatively stable, while the export volume is up by 14%. This is due to the average price of salmon dropping from DKK 72.6 to DKK 64.2 per kilogram. The changes in the average price are partly attributed to a general price drop but are also due to reduced production of processed goods such as fresh and frozen fillets. This has led to increased exports of unprocessed, cheaper goods, and a shift from processed to unprocessed goods leads to a lower average price.

The export value in the ‘Other non-food use’ category increased by DKK 127.8 million (32.8%). This mostly consists of fish entrails.

Exports of mackerel increased by DKK 469.7 million (46.6%). This increase is due to higher prices as the export volume for mackerel fell by 1.5 tonnes (1.6%) year-on-year.

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The table below shows the export of fishery products by country. The largest increase is in exports to Asia – mostly China. Exports to EU countries have decreased slightly, and are now DKK 5.6 billion. Exports to North America have declined significantly, evidenced by a DKK 236.5 million year-on-year drop in fish exports to the US.

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Recent years have seen a considerable increase in exports to the EU and the USA. Most of the exports to the Americas go to the USA. Exports to the USA have increased from DKK 50-100 million per month in the 2014-2021 period to DKK 100-200 million per month.

Exports to Asia dropped significantly during the Covid-19 pandemic but are now back at pre-pandemic levels. 

Five countries – USA, UK, Russia, Denmark and Spain – purchase more than DKK 1 billion worth of goods from the Faroes.

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All tables (Statbank)