Norway exported seafood worth US$1.43 billion (NOK 13.8 billion) in February, marking a decline of US$27.1 million (NOK 262 million), or 2 per cent, compared with the same month last year.

“Lower supplies of shellfish and wild-caught fish due to quota reductions, combined with a still troubled world and trade barriers, are affecting the market, product flows and prices even more strongly than we have experienced before. The start of this year has therefore been more demanding than last year," says Christian Chramer, CEO of the Norwegian Seafood Council.

During the first two months of the year, Norway exported seafood worth US$2.95 billion (NOK 28.5 billion). This represents a drop of US$80.5 million (NOK 777 million), or 2.7 per cent, compared with the same period in 2025.

Stronger Norwegian krone reduces export value

Although export value measured in Norwegian kroner declined in February, exports actually increased when measured in euros and US dollars compared with the same month last year.

"When the krone strengthens, the value of exports measured in Norwegian kroner falls. This means that we no longer have the positive currency effect of a weaker krone," explains Christian Chramer.

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Large fall in wild fish volume

Export volumes of salmon increased in February, while prices rose for mackerel, cod, saithe, trout, and haddock. These gains helped boost export value but were not enough to offset lower volumes from several wild-caught species.

“The export volume of fresh wild cod was the lowest in February since 2009, while the volume of mackerel more than halved compared with the same month last year. This development is not only challenging for seafood exports, but has dramatic consequences for the onshore industry, which is now experiencing very tough economic times," says Christian Chramer.

Exports continue to increase due to aquaculture and decrease due to fishing.. Click on the image to enlarge it

In February, Norway exported fish from aquaculture worth US$1.03 billion (NOK 9.96 billion), an increase of US$36.1 million (NOK 348 million) compared with the same month last year.

Aquaculture accounted for 72 per cent of total Norwegian seafood exports during the month.

Exports from fisheries declined 13 per cent, or US$63.2 million (NOK 610 million), to US$400 million (NOK 3.86 billion).

China records strongest growth

The largest markets for Norwegian seafood exports in February were Poland, China, and the United States.

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China recorded the strongest growth, with export value rising US$44.6 million (NOK 430 million), or 54 per cent, compared with the same month last year.

China represented 8.9 per cent of Norway’s seafood export value in February, up from 5.7 per cent in the same month last year.

Sharp decline in exports to the United States

In contrast, shipments to the United States fell significantly.

Norway exported seafood to the US worth US$104 million (NOK 1 billion) in February, a decline of US$58.9 million (NOK 568 million), or 36 per cent, compared with the same month last year.

<-- Value of Norwegian seafood exports per month

As a result, 7.5 per cent of Norwegian seafood exports went to the US in February, down from 11.5 per cent a year earlier.

“Most of the decline is in fresh salmon fillets, but several other species and products also fell significantly. King crab, snow crab, frozen salmon fillets and fresh whole salmon have a sharp decline in exports to the US compared to last year," explains Christian Chramer.

"After the first two months of the year, the decline to the US market totals US$114 million (NOK 1.1 billion), or 36 per cent, compared with the same period last year."

Europe remains stable

Exports to Europe remained steady.

Norway exported seafood to Europe worth US$890 million (NOK 8.6 billion) in February, roughly the same as 12 months earlier.

"Even though an increasingly troubled world is having a major impact on both logistics and demand for Norwegian seafood, our main market Europe is holding its own. Together with growth in China, this helped to limit the impact of the US downturn in February," says Christian Chramer.