Exports of salmon from the Faroe Islands dropped by DKK 291.7 million (€39.2 million) over the past year, according to new figures from Statistics Faroe Islands.
While the total volume of salmon exported actually rose by almost 13%, the value fell nearly 5%, highlighting a significant drop in prices.
From May 2024 to April 2025, the Faroe Islands exported goods worth DKK 12.2 billion (€1.64 billion), a decrease of DKK 551 million (€74 million) from the previous year.
Fish products accounted for the bulk of this total, but even they saw a 5.9% decline in value.
Salmon, the country’s top export, saw its average price fall from around DKK 68 per kilo in recent years to below DKK 58 (€7.80) per kilo now. At its peak in May 2022, the price was DKK 91.80 (approximately €12.30) per kilogram.
Other significant changes included:
- Mackerel exports surged by DKK 615 million (€82.6 million), mainly due to higher prices.
- Fishmeal and fish oil exports plummeted by DKK 398 million (€53.4 million) and DKK 486 million (€65.3 million) respectively.
- Exports to Asia—especially China—increased, while exports to the EU and North America fell, particularly to the US.
- Five countries now import over DKK 1 billion (€134 million) worth of Faroese goods annually: the US, Russia, Denmark, the UK, and Spain.
- Despite strong demand for specific fish species, overall export values have declined, primarily driven by falling prices in key markets.
