Norway reports record seafood export revenue on higher salmon volumes and wild-catch prices

NORWAY – Norway posted its highest-ever seafood export revenue last year, shipping 2.8 million tonnes valued at US$17.9bn, according to data released by the Norwegian Seafood Council, representing a 4% increase from 2024.

Salmon generated the largest share of export earnings, with overseas deliveries totaling 1,414,909 tonnes worth US$12.3bn, marking a 2% rise in value compared with the previous year.

Poland, the United States, and China remained the leading markets for Norwegian salmon, with the US accounting for 9% of total seafood export value, its largest share since 1989.

This export performance came amid new trade frictions, as tariff increases introduced in April and August raised US duties on Norwegian seafood to at least 15% across most product categories.

Shipments to the US surged early in the year, rising 55% in the first quarter compared with the same period in 2024, before easing to a 1% year-on-year decline in the fourth quarter.

Norwegian Seafood Council chief executive Christian Chramer said the new US tariffs disrupted what had been strong early-year demand, contributing to a more uneven trading environment shaped by higher costs and a weaker dollar.

Despite the challenges, Chramer said the US remains the world’s largest salmon consumption market and continues to offer long-term growth potential for Norwegian seafood exporters.

Shifting regional demand
Europe retained its position as Norway’s largest regional market, with Poland ranking as the top individual European destination for the twelfth consecutive year, even as Europe’s share of export value fell from 67% to 63%.

China recorded the strongest growth in value terms, with Norwegian seafood exports rising 59% to US$1.21bn, moving the country from sixth to third place among Norway’s largest export markets.

Salmon exports to China were a key driver, nearly doubling in value to US$0.80bn on shipments of 90,906 tonnes.

The council said growth in China was also supported by increased demand for prawns, redfish, and Greenland halibut, resulting in the highest seafood export value Norway has ever recorded for the market.

Trout exports rose as well, with volumes increasing 16% to 86,903 tonnes and export value reaching US$0.73bn.

Fresh cod exports declined 9% by volume to 36,704 tonnes but achieved higher returns, with export value rising 11% to US$0.28bn.

Farmed fresh cod shipments climbed 30% to 15,493 tonnes, accounting for 38% of all fresh cod exports, while frozen cod exports dropped 22% in volume but increased 5% in value to US$0.32bn.

Vietnam recorded a 38% increase in export value, which the council linked to shifting US processing demand away from China following higher tariffs.

Snow crab exports reached a record value of US$0.16bn on volumes of 7,610 tonnes, while prawn exports totaled 31,842 tonnes valued at US$0.18bn despite a decline in shipped volumes.

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