Exports of goods
14. Jul 2023
Stagnation in export value growth
The table below shows export figures for the June 2022 - May 2023 period compared with the previous 12-month period.
The export value of salmon increased by DKK 452 million (9%), while the export volume dropped by just over 8,000 tonnes (11%).
The highest export value growth was registered in the ‘other fish species’ 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 949 million (64%), while the export volume increased by 76%.
Saithe and cod prices continue to rise, while the price of haddock has been declining in recent months.
Exports of other goods, predominantly oil sold to foreign ships, increased by DKK 180 million (29%).
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The table below shows fish export volumes from June 2022 to May 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 of all goods, except salmon, has now returned to pre-February 2022 levels.
The graph below shows monthly exports to Russia and Europe.
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Exports of pelagic fish to Russia have not stopped. In May 2023, exports of mackerel, herring and blue whiting to Russia amounted to DKK 12.6 million. This is a typical figure for the month of May.
As the graph below shows, export figures for pelagic fish tend to fluctuate and are usually lower in the April-August period.
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The ‘other products’ group mostly consists of sales of fuel to Russian fishing vessels docking in Faroese ports. The export value in ‘other products’ amounted to DKK 16.4 million in May. Although this export value is slightly higher than in previous years, the export volume of fuels is slightly lower.
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