Exports of goods
12. Jul 2024
Fish oil exports up by DKK 271 million
The tables below show export figures in terms of value and volume in the June 2023 – May 2024 period compared with the previous 12-month period.
Fish exports fell by DKK 131.4 million (1.1%). Exports of salmon, feeding stuff and fish oil increased, while exports of other fish species decreased or remained steady. The export drop in non-fish categories predominantly stems from fuel and ships.
Salmon exports increased by DKK 242.9 million, up 4.3% in value and up 1% in volume.
Other goods that boost the total export figure include feeding stuff and fish oil, with exports of these increasing by DKK 79.9 million and 271.5 million, respectively. Total exports of feeding stuff, fishmeal and fish oil increased by 15,000 tonnes.
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Denmark receives the largest share of exports from the Faroes, but the biggest relative export growth went to Italy, increasing by a quarter year-on-year. Italy has pushed Germany out of the top 10 list. Russia has dropped from 4th to 6th on the list. Exports to Russia fell by DKK 484.8 million (38.5%) year-on-year.
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The most exported good is whole, chilled salmon, with imports increasing by DKK 661.3 million (19.7%) year-on-year.
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Tables for imports and exports have been restructured. All tables now allow selection of imports/exports and value/volume.
The new SITC table (UH01026) is similar to the old tables (UH01020 and UH01021), with the following changes:
- Upgraded BEC classification from Rev. 4 to Rev. 5.
- Uses the FAO’s ISSCFC fishery commodities classification.
- Fish species are classified according to the MCS (Main Commercial Species) system by The European Market Observatory for fisheries and aquaculture products (EUMOFA), launched by the EU Commission.
- Includes fish processing information and supply chain data.
The ISSCFC includes a large number of commodities searchable by codes or text.
All data in the ISSCFC table will eventually be translated into Faroese.