The value of Faroese exports grew to 12.7 billion DKK in the year from August 2024 to July 2025, up nearly 354 million DKK compared to the previous year. The strongest driver was mackerel, where prices have doubled.
Mackerel boom dominates figures
Mackerel exports surged to 1.77 billion DKK, representing a 90% increase in value. Export volumes rose 25%, but the main factor was price: from around 10 DKK per kilo in recent years to more than 20 DKK. This makes mackerel the single biggest growth story in Faroese exports.
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Cod and haddock also strengthened. Cod exports climbed 13% in value to 1.2 billion DKK, while haddock rose 43%. Blue whiting, saithe and herring all grew modestly.
Salmon value falls despite higher volumes
Salmon told the opposite story. Export volumes rose 17%, but lower prices dragged the value down 1.5% to 5.8 billion DKK. Prices fell about 16%, confirming a year of weaker salmon markets.
Fish meal, fish oil and feed showed steep declines. Fish oil exports collapsed by 98%, while fish meal halved in value.
Export markets shifting
The most significant growth came from Asia, primarily from China. Sales to Russia also increased sharply, up 517 million DKK, despite salmon exports having stopped earlier. Exports to North America fell, especially to the US.
Five markets each now buy Faroese goods worth more than 1 billion DKK annually: the US, UK, Russia, Denmark and Spain. Spanish demand has almost doubled in recent years, from 50 million DKK a month to nearly 100 million.