Faroese exports rise by 1.8 billion kroner

Faroese businesses exported goods worth 14.5 billion kroner in the year to 31 July, an increase of 1.8 billion kroner from the previous year, according to KVF.

Salmon accounted for much of the growth. Salmon exports reached 6.8 billion kroner, up by 1 billion kroner year on year. Export volumes increased from 100,000 tonnes to 125,000 tonnes.

Cod exports reach 1.6 billion kroner

Improved performance by the bottom-fish fleet also contributed to the figures. The Faroe Islands exported cod worth 1.6 billion kroner, nearly 400 million kroner more than the previous year. Cod export volumes rose from 18,000 tonnes to 20,000 tonnes.

By value, cod is now the second-largest individual export product, ahead of mackerel. Mackerel exports were worth just under 1.6 billion kroner, a decline of nearly 200 million kroner from the previous year.

Overall, the value of Faroese exports increased by 11.6 percent. However, total export volumes fell by just under 50,000 tonnes, or 7.8 percent, largely because less blue whiting and mackerel was exported.