Norway’s weaker currency is good for exports, and likely helped seafood producers set a new record in July for the value of their shipments abroad.
News service NTB reports that Norway exported 164,000 tons of seafood last month, worth NOK 7.8 billion (USD 876 million). Even though the size of the shipment was lower than last year, its value set a new record for July based on higher prices and more kroner to the US dollar and other currencies in countries buying the seafood.
“The growth in export volume of salmon and higher prices are the most important reasons that the value of Norwegian seafood exports has been high,” said an analyst at the Norwegian seafood council.
Every kilo sold now is also generating more kroner for its Norwegian sellers, since the krone currently is trading at nearly NOK 9 to the dollar, just over NOK 10 to the euro on Thursday and nearly NOK 11 to the pound. That’s higher than last year at this time.