Norway seafood exports drop again, hit by stronger krone and lower volumes
Sharp drops in mackerel and salmon volumes partly offset by strong growth to Asia
NORWAY – Norway exported seafood worth NOK 16.6 billion (US$1.63 billion) in November, down NOK 608 million (US$60.3M) or 4 % from the same month last year.
This marks the second consecutive month of lower export values, driven by a stronger Norwegian krone, which makes products more expensive abroad, and falling volumes for several wild-caught species, according to the Norwegian Seafood Council.
Mackerel exports dropped sharply to 21,655 tonnes, the lowest November volume since 2010, representing a 51 % decrease from November 2024, while high prices for mackerel, herring, and cod could not offset the volume decline.
Fresh cod exports grew to 3,163 tonnes valued at NOK 246 million (US$24.1 million), the highest November value ever recorded, with volume up 54 % year‑on‑year, and frozen cod exports reached 3,245 tonnes for NOK 308 million (US$30.3 million), rising 82 % in value and 57 % in volume.
Both wild and farmed cod contributed to the growth, with farmed cod accounting for just over half of the export value for fresh cod.
Aquaculture products remained dominant in total exports, representing NOK 12.1 billion (US$1.19 billion) or 73 % of all seafood exports, with salmon continuing as the primary contributor.
Salmon exports fell to 126,191 tonnes worth NOK 11.4 billion (US$1.12 billion), down 4 % in value and 3 % in volume compared with November 2024, while Poland, France, and the U.S. were the largest markets by value.
China saw the fastest growth in salmon exports with 6,598 tonnes valued at NOK 165 million (US$16.2 million), a 47 % rise in volume and 35 % increase in value, supporting a shift in demand toward Asian markets.
Thailand overtook Japan and South Korea to become one of the largest Asian destinations for salmon and trout by volume, while the EU’s share of Norwegian salmon exports fell from 66 % to 61 % year‑on‑year and Asia’s share rose from 18 % to 21 %.
Through November 2025, total seafood exports reached NOK 165.4 billion (US$16.3 billion), up 3 % from 2024, and if December matches last year’s levels, the total for 2025 could exceed NOK 180 billion, surpassing the previous record of NOK 175.2 billion.
Quota reductions aimed at protecting wild fish stocks, combined with the stronger krone and growing Asian demand, continue to shape the trends in Norway’s seafood exports.
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