China to the rescue as Norwegian seafood exports down again this year

The overall figure for February was NOK 13.8 billion (£1.06bn) a decline of 2% or NOK 262 million (£20m) on January 2025. Seafood exports fell by 3% in January.

Norwegian Seafood Council CEO Christian Chramer said that a lower supply of shellfish and wild-caught fish due to quota reductions, combined with a continued turbulent world and trade barriers, is affecting the market, commodity flows and prices even more strongly than the country has experienced before.

“The start of this year has therefore been more demanding than last year,” he added.

 In the first two months of this year, Norway exported seafood worth NOK 28.5 billion (£2.2bn) . This is a decrease of NOK 777 million (£60m) or 2.7%, compared to the same period in 2025.

The Norwegian kroner has strengthened considerably since the start of the year and this weakens export values.

The picture for salmon, however, was somewhat brighter thanks to surging demand from China and the Far East generally.

Norway’s fish farmers sold 97,463 metric tons of salmon worth NOK 9.4 billion (£728m). The value was up by 5% or NOK 458 million (£35.5m) and the volume up by 10% on February last year.

Exports to China, as expected, saw the greatest value growth in February, with an increase in export value of NOK 570 million (£44m) , or 107% compared to the same month last year.

Unsurprisingly, exports to the US fell showed the largest decline. They were down by the most in February. Compared to 12 months ago, the decrease was NOK 339 million (£44m), or 34%.

 Seafood council analyst Paul T. Aandahl said the export of fresh fillets to the US had fallen furthest.

“This must be seen in light of tariffs, increased uncertainty about future trade conditions, increased competition from other producing nations and a weakened US dollar,” he added.