Value of Scottish salmon exports rises by 41%

The value of Scottish salmon exports jumped by 41% to £431 million in the first half of 2024 compared to the same period last year, new figures show. Export volume was up by 12%.

The increase in value was driven by substantial growth in the Asian and American markets, said sector trade body Salmon Scotland, which has analysed HMRC statistics. Significant increases by value were seen in the United States, China, Taiwan, and Singapore, reflecting strong growth in those markets.

France remains by far the top international destination for Scottish salmon, with sales nearly doubling (+91%) due to a continued post-Covid recovery in demand, and tight supplies during the same period last year.

Potential sales record

Salmon Scotland said that if current growth continues, 2024 could set a record for international sales.

Within the European Union, Poland, Ireland, and the Netherlands are significant markets for Scottish salmon and although sales to these hubs and further processing markets dipped in the first half of the year, the decline was more than offset by increased global demand.

Overall, the value of salmon exports to the EU rose by 57% to £272m, while non-EU sales rose by 21% to £159m.

In the 12 months to June, fresh, whole Scottish salmon export sales reached £706m, up 17% year on year and suggesting that sales value could surpass the calendar record figure of £617m set in 2019.

Salmon that qualifies for France’s premium ‘Label Rouge’ accreditation currently accounts for around 12% of exports, and salmon farmers aim to grow this to 15% by 2026, tapping into the markets in Germany, Spain and Italy where the quality mark is increasingly recognised.

Separately, the UK domestic market for salmon (which includes sales of imported salmon) is valued at around £1.2 billion per year, and the Scottish sector’s gross value added (GVA) is worth £766m for the Scottish and UK economy.

Growing global demand

Salmon Scotland chief executive Tavish Scott said: “These latest export figures show another period of remarkable success for Scottish salmon, reflecting the hard work and dedication of our farmers and growing global demand.”

UK government trade policy minister Douglas Alexander said: “These figures are hugely encouraging and show strong demand for our high quality salmon in Asia and America - some of the most exciting markets in the world.

“It’s a credit to those in the salmon industry across Scotland who work so hard to create such a revered product.

“Economic growth is at the heart of everything this UK Government does, which is why we are working hard to open up new markets for Scottish goods and services.”

Exceptional figures

Scotland's Deputy First Minister Kate Forbes said: “These exceptional figures clearly demonstrate the surging global demand for Scottish salmon, which is correctly recognised as a premium high-quality product.

“The Scottish farmed salmon sector is important to our economy, providing well paid jobs in Scotland’s rural and island communities.

“The Scottish Government is fully committed to working with industry to aid sector growth in overseas markets, whilst solidifying their premier status in domestic markets. In doing so, we will continue to drive sustainable growth, which will have significant economic benefits.”