The value of Norwegian seafood exports in February dropped 2% in NoK terms compared to the same month in 2025, while the figure for the first two months of 2026 is 2.7% down on January and February 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,’ said Norwegian Seafood Council CEO Christian Chramer.
While the value of exports measured in Norwegian kroner fell in February, there was an increase measured in both euros and 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,’ he said.
The volume of salmon exported increased in February, while prices for mackerel, cod, saithe, trout and haddock increased. This had a positive impact on the export value, but not enough to compensate for the decline in volume for 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,’Christian Chramer said.
In February Norway exported aquaculture production valued at NOK 9.96 billion, and aquaculture accounted for 72% of total Norwegian seafood exports in February. Exports from fisheries fell 13% during February.
The largest markets for Norwegian seafood exports in February were Poland, China and the USA. China had the highest growth in value, with an increase in export value of NoK430 million, or 54%, compared with the same month last year. In February, China accounted for 8.9% of the value of Norwegian seafood exports, compared with 5.7% in the same month last year.
During last month, Norwegian exporters shipped seafood to the USA worth NoK1 billion. This is a decrease of NOK 568 million, or 36%, compared with the same month last year.
7.5% of Norwegian seafood exports went to the US in February, compared with 11.5% in the same month last year.
‘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,,’ Christian Chramer said.
‘After the first two months of the year, the decline to the US market totals NOK 1.1 billion, or 36%, compared with the same period last year.
Norway exported seafood to Europe worth a total of NoK8.6 billion in February, matching the figures of a year ago.
‘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,’ Christian Chramer said.
