Norway’s seafood export industry had the best half to start a year in its history as it hit a record NOK 85.2 billion (USD 8.4 billion, EUR 7.2 billion) in value.
Norway’s seafood exports had a big start in Q1 2025 that showed signs of wavering in May. Despite the lower performance in May, the nation’s seafood exports rebounded in June and helped push the country’s seafood industry to record-breaking value.
"The first half of the year shows that Norwegian seafood exports are strong, even in the face of demanding market conditions and increasing trade barriers,” Norwegian Seafood Council CEO Christian Chramer said. “The fact that we are seeing growth in the value of exports to key markets such as the U.S., China, and the U.K. confirms the high level of confidence in Norwegian seafood products.”
The NOK 85.2 billion amount is an increase of NOK 4.6 billion (USD 455 million, EUR 388 million), or 6 percent, over the same period in 2024. That total was aided by a 9 percent increase in export value in June, with the country achieving NOK 13.2 billion (USD 1.3 billion, EUR 1.1 billion) in exports in the month.
The largest markets in H1 2025 for Norwegian seafood were the U.S., Poland, and China.
Norway exported NOK 8.7 billion (USD 861 million, EUR 735 million) in seafood to the U.S. in H1 2025, an increase of 38 percent, or nearly NOK 2.4 billion (USD 237 million, EUR 202 million), over the same period of 2024. Export volumes increased as well, reaching 66,299 metric tons (MT), 29 percent higher than in 2024.
China had the largest value growth year over year of any market.
“China had the highest value growth in the first half of the year, with an increase in export value of NOK 1.5 billion [USD 147 million, EUR 126 million], or 62 percent, compared with the first half of last year,” NSC Seafood Analyst Paul T. Aandahl said. “The export volume to China ended at 42,224 MT, which is 122 percent higher than in the first half of last year.”
Those gains came as the top 10 species in terms of value all saw value growth aside from cod.
Salmon, the most valuable Norwegian seafood species in terms of exports – making up more than double the value of the other top 10 species combined – saw a value increase of 3 percent to NOK 57.8 billion (USD 5.7 billion, EUR 4.8 billion) in H1 2025.
That value increase came despite low prices for the species, which were largely the result of high volumes. Norway exported 609,946 MT of salmon in H1 2025, an increase of 22 percent over the same period of 2024.
Across all markets, Norway exported 110,000 MT of salmon worth NOK 9.2 billion (USD 910 million, EUR 777 million) in June, increases of 19 percent and 5 percent, respectively.
The second-highest value species exported by Norway in H1 2025 was cod, which earned the country NOK 6.8 billion (USD 673 million, EUR 574 million) in the period. That number is relatively flat compared to 2024, and exports of both frozen cod and fresh cod saw lower volumes and values in June 2025.
For fresh cod, volume fell by 20 percent, while value fell only 1 percent in H1 2025. Fresh wild cod export volumes fell by 34 percent in the period, but farmed cod exports increased 26 percent in the period and value increased 47 percent to NOK 544 million (USD 53 million, EUR 45 million).
"Farmed cod accounted for 31 percent of the export value of fresh cod,” NSC Seafood Analyst Eivind Hestvik Brækkan said.
Frozen cod exports fell even further, dropping in volume by 35 percent ad in value by 10 percent in H1 2025. The U.K., China, and Vietnam were the largest markets, with the U.K. representing a growth market in terms of value.
As fresh and frozen cod saw value decreases, the values of clipfish, salted fish, and dried fish all increased, helping offset the drops.
As cod stayed flat, trout achieved 20 percent value growth to NOK 3.5 billion (USD 346 million, EUR 295 million), making it the third-highest Norwegian seafood export in terms of value in H1 2025.
Mackerel, which reached fourth on the list of top 10 seafood exports by value, also saw growth and reached NOK 2.3 billion (USD 227 million, EUR 194 million) in H1 2025, an increase of 56 percent.
That value came from 73,662 MT in exports, a volume growth of 15 percent.
"Expectations of a lower supply of mackerel in 2025 and continued high demand are characterizing the price situation for mackerel," Aandahl said.
Across all of the top 10 species, snow crab saw the largest value growth overall. Norway exported NOK 1.4 billion (USD 138 million, EUR 118 million) worth of snow crab in H1 2025, double the value it earned in H1 2024, despite modest growth in volume to 6,348 MT – just 1 percent higher than in 2024.
"Snow crab exports were at record levels in the first half of the year, fueled by export prices that were significantly higher than last year, with an average price of NOK 224 [USD 22.18, EUR 18.93] per kilogram,” NSC Seafood Analyst Josefine Voraa said. “This is 99 percent more than in the first half of 2024.”
