Countries outside the European Union are carrying Norwegian export through the Euro crisis. While export to Spain and Italy is plunging, Russia and Brazil are buying more Norwegian commodities than ever.
While the export to many eurozone countries has halted or declined during the Euro crisis, countries like Russia, China and Brazil has kept Norwegian export on a steady level.
The total export to Russia increased 50 percent in the period 2010-2012 compared to 2007-2009. A large part of this is export of fish products, Aftenposten writes.
Numbers presented by Norwegian Seafood Council show that while most Norwegian export markets for salmon has had a decline, the Russian market has a totally different development. In the first six months of 2012 Norway exported 63.000 tons of salmon to the Russian market. That is an increase of 25.000 tons of salmon compared to last year, increasing the volume with incredible 67 percent. This makes Russia the second largest market for Norwegian salmon. Only France imports more.
The EU is still Norway’s largest trade partner, but is getting an increasingly smaller part of Norwegian export. In 2007-2009 the EU received 67 percent of Norwegian exports. After 2010 this share has fallen to 63 percent.