Strong Faroese Seafood Industry Facing a Rough Ride

Written By Sigurgunn W. Danielsen

“There are a lot of uncertainties at the moment, in particular when it comes to oil prices and market access.” — Dr. Magni Laksáfoss.

“In 2021 the Faroe Islands exported almost 147,000 tonnes of fish to Russia at a value of more than 2 billion DKK [278.4 million EUR]; that’s a large share of the country’s total exports of 524,000 tonnes at a value of slightly over 10 billion DKK [1.34 billion EUR]. So we’re roughly talking about one-fifth of the total value of our exports.”

Blue Resource CEO Dr. Unn Laksá, right, with Blue Resource economist Dr. Magni Laksáfoss.

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Sigurgunn W. Danielsen
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