“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.
In the first two months of the year, Norway exported seafood worth NOK 28.5 billion. This is a decrease of NOK 777 million, or 2.7 per cent, compared with the same period in 2025.
Strengthening of the Norwegian krone weakens export value
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," explains Chramer.
Large fall in wild fish volume
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," says Christian Chramer.
In February, Norway exported fish from aquaculture for NOK 9.96 billion. This is an increase of NOK 348 million compared with the same month last year.
Aquaculture accounted for 72 per cent of total Norwegian seafood exports in February. Exports from fisheries fell 13 per cent, or NOK 610 million, to NOK 3.86 billion in February.
Largest growth to China
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 NOK 430 million, or 54 per cent, compared with the same month last year.
In February, China accounted for 8.9 per cent of the value of Norwegian seafood exports, compared with 5.7 per cent in the same month last year.
Sharp decline to the USA
In February, Norway exported seafood to the USA worth NOK 1 billion. This is a decrease of NOK 568 million, or 36 per cent, compared with the same month last year.
7.5 per cent of Norwegian seafood exports went to the US in February, compared with 11.5 per cent 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," explains Chramer.
"After the first two months of the year, the decline to the US market totals NOK 1.1 billion, or 36 per cent, compared with the same period last year.
Europe holds its own
Norway exported seafood to Europe totalling NOK 8.6 billion in February. This is the same amount as 12 months 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," says Christian Chramer.
Growth in volume and value for salmon
- Norway exported 97,463 tonnes of salmon worth NOK 9.4 billion in February
- The value increased by NOK 458 million, or 5 per cent, compared with the same month last year
- This is a growth in volume of 10 per cent
- Poland, China and France were the largest markets for salmon in February
China had the highest value growth in February, with an increase in export value of NOK 570 million, or 107 per cent, compared with the same month last year.
Exports to the USA fell the most in February. Compared with the same month last year, the decrease was NOK 339 million, or 34 per cent.
“Exports of fresh fillets to the USA saw the biggest decline. This must be seen in the light of customs duties, increased uncertainty about future trade conditions, increased competition from other producer nations and a weakened US dollar," says seafood analyst Paul T. Aandahl of the Norwegian Seafood Council.
Chinese New Year resulted in good growth
Norway exported 11,512 tonnes of salmon to China in February. This is an increase of 126 per cent compared with the same month last year.
“The Chinese New Year celebrations follow the lunar calendar and this year fell in mid-February. Significant volumes of salmon were shipped to China ahead of the holiday," says Sigmund Bjørgo, the Norwegian Seafood Council's envoy to China.
"The distribution of salmon has improved in China over the past year, which has increased availability. Norwegian salmon can now be purchased in more stores, on social media and in neighbourhood shops and can be delivered to customers' homes within half an hour. In addition, gift packs of salmon were a major driver of the huge growth in Chinese salmon consumption during this year's Chinese New Year celebrations," Bjørgo explains.
Weak month for trout
- Norway exported 4,557 tonnes of trout worth NOK 446 million in February
- The value fell by NOK 117 million, or 21 per cent, compared with the same month last year
- Volume fell by 23 per cent
- The USA, Ukraine and Thailand were the largest markets for trout in February
The USA saw the greatest growth in value in February, with an increase in export value of NOK 11 million, or 14 per cent, compared with the same month last year.
The export volume to the USA ended at 729 tonnes, which is 17 per cent higher than the same month last year.
Volume decline for fresh cod
- Norway exported 4,006 tonnes of fresh cod worth NOK 392 million in February.
- The value was unchanged from the same month last year
- Volume fell by 15 per cent
- Denmark, Poland and the Netherlands were the largest markets for fresh cod in February
Figures from the Directorate of Fisheries show that landings of fresh cod in February were the lowest recorded since statistics began in 2013.
“This also means that we had the lowest export volume of fresh wild cod in February since 2009," says seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council.
For fresh wild cod, the export volume fell 21 per cent to 2,552 tonnes, while the export value fell 4 per cent to NOK 280 million.
Low quotas affect exports
For fresh farmed cod, export volumes fell by 3 per cent to 1,454 tonnes, while export value increased by 12 per cent to NOK 112 million.
Farmed cod accounted for 29 per cent of the export value of fresh cod.
"The major driver behind the decline in exports of fresh cod is the low quotas. At the same time, the trend of fresh exports falling relatively more than landings continues. The land-based industry in Norway needs raw materials to keep activity going and takes a larger share of Norwegian landings when quotas fall," explains Brækkan.
"The quota reduction means that the industry receives far less raw material for processing compared with previous years.
“As a result, this year's cod season is likely to be characterised by the fiercest competition for raw material in a very long time," says Eivind Hestvik Brækkan.
Volume drop for quality labelled skrei
- Norway exported 730 tonnes of skrei worth NOK 78 million in February
- The value fell by NOK 9 million, or 10 per cent, compared with the same month last year
- Volume fell by 20 per cent
- Denmark, the Netherlands and Spain were the largest markets for skrei in February
Lower cod quotas and a decline in landings have also resulted in lower exports of quality labelled cod.
"Low volumes and very high prices, including for non-quality labelled fresh wild cod, look set to make for a challenging season for quality labelled cod," says Eivind Hestvik Brækkan, Seafood Analyst with the Norwegian Seafood Council.
Decline in consumption in Spain
"Denmark and the Netherlands are transit and processing markets for cod, while Spain is our largest consumer market.
“Although cod still has a strong position in Spain, the price increases of recent years have resulted in a major decline in consumption. This trend has continued in this year's cod season," says Tore Holvik, the Norwegian Seafood Council's envoy to Spain.
Sharp decline for frozen cod
- Norway exported 1,690 tonnes of frozen cod worth NOK 176 million in February.
- The value fell by NOK 231 million, or 57 per cent, compared with the same month last year
- Volume fell by 66 per cent
- Vietnam, the UK and the Netherlands were the largest markets for frozen cod in February
February is characterised by lower landings of frozen cod, which has contributed to a sharp decline in exports.
The export volume of frozen whole cod fell more than 70 per cent in February, to just 1,234 tonnes. This is the lowest export volume of frozen whole cod in a single month since March 2009.
Fall in exports to China
The decline in exports to China continues, and for the second month in a row Vietnam is our largest market for frozen cod.
“High and fluctuating tariffs on imports from China to the US through 2025 reduced China's competitiveness in exporting frozen cod fillets to the US market. This resulted in lower Chinese demand for frozen whole cod. Although both Vietnam and China now face the same tariffs on frozen cod fillets to the US, the shift away from China as a processing market will continue into 2026," says seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council.
Decline in volume and value for clipfish
- Norway exported 4,425 tonnes of clipfish with a value of NOK 421 million in February.
- The value fell by NOK 97 million, or 19 per cent, compared with the same month last year
- The volume fell by 37 per cent
- Portugal, the Dominican Republic and Congo-Brazzaville were the largest markets for clipfish in February
For saithe clipfish, export volumes fell by 36 per cent to 2,785 tonnes, while export value fell by 21 per cent to NOK 184 million.
For clipfish from cod, the export volume fell by 26 per cent to 1,265 tonnes, while the export value fell by 9 per cent to NOK 211 million.
Solid price increase in Portugal
In recent years, Portugal has consolidated its position as by far the largest market for Norwegian cod clipfish. This trend also continued in February.
“However, quota reductions and less raw material available to the Norwegian clipfish industry mean that export volumes to Portugal are also falling," says seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council.
At the same time, a solid price increase makes Portugal the market with the highest value growth in February, with an increase in export value of NOK 15 million, or 9 per cent, compared with the same month last year.
The export volume to Portugal in February ended at 1,132 tonnes, which is 15 per cent lower than the same month last year.
Value growth for salted fish
- Norway exported 1,318 tonnes of salted fish worth NOK 139 million in February
- The value increased by NOK 17 million, or 14 per cent, compared with the same month last year
- Volume fell by 6 per cent
- Greece, Portugal and Italy were the largest markets for salted fish in February
As in February last year, Greece was our largest market for salted fish last month.
“This market is characterised by a strong seasonal pattern with February as the largest export month every year. This is linked to food traditions around Lent and Easter, where salted cod and ling have a strong position," says seafood analyst Eivind Hestvik Brækkan of the Norwegian Seafood Council.
Portugal saw the greatest growth in value in February, with an increase in export value of NOK 24 million, or 82 per cent, compared with the same month last year.
The export volume to Portugal ended at 434 tonnes, which is 75 per cent higher than in February last year.
Increased value for stockfish
- Norway exported 342 tonnes of stockfish worth NOK 123 million in February
- The value increased by NOK 19 million, or 19 per cent, compared with the same month last year
- This is a growth in volume of 4 per cent
- Italy, Croatia and Nigeria were the largest markets for stockfish in February
Italy had the highest value growth in February, with an increase in export value of NOK 25 million, or 31 per cent, compared with the same month last year.
The export volume to Italy ended at 246 tonnes, which is 10 per cent higher than the same month last year.
Solid month for herring
- Norway exported 44,475 tonnes of herring worth NOK 703 million in February
- The value increased by NOK 203 million, or 40 per cent, compared with the same month last year
- This is a growth in volume of 67 per cent
- Egypt, Denmark and Lithuania were the largest markets for herring in February
The winter fishing season for herring is now over, and the fishing was very good.
In January and February, a total of 170,000 tonnes of herring were landed, an increase of 64 per cent compared with the same period last year.
“We have to go back to 2012 to find similar figures, and this is also reflected in the export statistics," says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.
Egypt was the largest market for whole frozen herring
There has been a solid increase in exports of whole frozen herring, and in February Egypt was by far the largest market.
“In Egypt, herring is one of the most important seafood products and is mainly consumed smoked. It's called Ringa and is particularly associated with the national spring celebration Sham El-Nassim, which this year falls on 13 April," says Johnsen.
When it comes to herring fillets, Poland and Lithuania top the list.
"The feedback from exporters is that the quality and size of the herring has been perfect for fillet production. The markets are described as good, but it is difficult to achieve good margins, partly because the Norwegian krone has strengthened against the euro," explains Jan Eirik Johnsen.
Large fall in volume for mackerel
- Norway exported 8,311 tonnes of mackerel worth NOK 423 million in February
- The value fell by NOK 189 million, or 31 per cent, compared with the same month last year
- The volume fell by 56 per cent
- South Korea, Lithuania and Vietnam were the largest markets for mackerel in February
The mackerel season that started in August last year ended in February, and figures from Norges Sildesalgslag show that a total of 185,000 tonnes of mackerel were landed in the 2025/2026 season. This is a decrease of 44 per cent compared with the 2024/2025 season.
"After setting price records every month from the start of the season in August, we see that the price of whole frozen mackerel fell from January to February," says Jan Eirik Johnsen, head of pelagic species at the Norwegian Seafood Council.
Last year, a record was set for mackerel fillet exports, with 12,500 tonnes worth NOK 800 million.
Decline in fillet exports
“So far this year, however, fillet exports have started significantly below last year. In January and February, 750 tonnes of fillet were exported, compared with almost 2,400 tonnes in the same period last year," explains Johnsen.
The price is NOK 95 per kg, compared with NOK 57 per kg in the same period last year.
"It is very positive that exports of mackerel fillets picked up last year, following many years of investment in fillet production in Norway. There was good demand for fillets produced from fresh raw materials during the season. However, fillets based on frozen raw material and purchased late in the season at significantly higher prices met with resistance in the markets," says Jan Eirik Johnsen.
Weak month for king crab
- Norway exported 151 tonnes of king crab worth NOK 97 million in February
- The value fell by NOK 86 million, or 47 per cent, compared with the same month last year
- Volume fell by 32 per cent
- USA, Tunisia and Canada were the largest markets for king crab in February
Decline in volume and value for snow crab
- Norway exported 1,798 tonnes of snow crab worth NOK 309 million in February
- The value fell by NOK 157 million, or 34 per cent, compared with the same month last year
- Volume fell by 5 per cent
- The USA, Canada and Denmark were the largest markets for snow crab in February
Fall in value and volume for prawns
- Norway exported 612 tonnes of prawns worth NOK 66 million in February
- The value fell by NOK 89 million, or 57 per cent, compared with the same month last year
- Volume fell by 78 per cent
- Sweden, the UK and Finland were the largest markets for prawns in February
Finland had the highest volume growth in February. The export volume to Finland ended at 91 tonnes, which is 15 per cent higher than the same month last year.
