Exports of goods
 16. May 2023
Exports March 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 April 2022-March 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 712 million (15%), while the export volume dropped by just over 11,000 tonnes (14%).

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 690 million (48%), while the export volume increased by 19%.

Mackerel exports increased by DKK 152 million in value, a year-on-year increase of 13%. The export volume went down 7% in this period.

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

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

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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.

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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. 

Exports of demersal fish to Russia have not stopped. In March 2023, exports of mackerel, herring and blue whiting to Russia amounted to DKK 144.9 million. This is a slightly higher March figure than in previous years.

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

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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 26.9 million in March. This is a typical figure for March.

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See more graphs
All tables (Statbank)