Norway reports strong growth in seafood exports in February, rising salmon demand in China
Norway exported seafood worth NOK14.1 billion (US$1.3 billion) in February 2025, indicating an increase of NOK853 million (US$78.4 millon), or six per cent, compared with the same month last year.
"We have never before experienced such a high export value in the month of February," said Christian Chramer, CEO of the Norwegian Seafood Council (NSC). "This is due to the combination of a weak Norwegian krone measured against the euro and dollar, high salmon volumes and strong value growth to the USA."
Largest increase to the US
The USA had the highest value growth in February, with an increase in export value of NOK548 million (US$50.3 million), or 52 per cent, compared with the same month last year. In the first two months of the year, value growth to the USA has thus totalled NOK985 million (US$90.5 million).
"February was the best ever month for exports to the USA," added Chramer. "This was primarily due to increased value for salmon, snow crab, king crab, trout and mackerel. Although the fear of the introduction of tariff barriers is causing some unease in the market, this is not the main reason for the strong growth."
Several factors at play
Chramer highlighted a number of factors that helped to boost the value of Norwegian seafood exports to the US in February. These include the growth in the volume and value of salmon in the US; increased harvesting volumes resulting in larger fish weighing five to six kg each; Norway having become the sole supplier of king crab to the US as Alaska has sold all its catch and Russia has been sanctioned.
Chramer also cited the weakening of the Norwegian krone against the US dollar compared with February last year, thus boosting export value measured in Norwegian kroner.
Continued uncertainty around increased tariffs
"There is still a great deal of uncertainty surrounding the introduction of customs barriers," said Chramer. "Together with the Norwegian authorities, we are closely monitoring developments."
A total of 11 per cent of Norwegian seafood exports in February went to the US. This is the highest share in a single month since the 1980s. In comparison, 62 per cent of seafood exports went to the EU, while 21 per cent went to Asia.
The largest markets for Norwegian seafood exports in February were the USA, Poland and Denmark, and seafood was exported to a total of 118 countries in February. This is one more than in February last year.
Strong volume growth for salmon
Norway exported 89,177 tonnes of salmon worth NOK9.1 billion (US$840 million) in February. The value increased by NOK185 million (US$17 million), or two per cent, compared with the same month last year. This is a growth in volume of 14 per cent.
Poland, the US and France were the largest markets for salmon in February. The US saw the greatest growth in value in February, with an increase in export value of NOK340 million (US$31.2 million), or 50 per cent, compared with the same month last year.
Exports to the US totalled 6,539 tonnes, which is 57 per cent higher than the same month last year.
Better production conditions
“We must see the volume growth in the context of improved production conditions in Norway," said Paul T. Aandahl, Seafood Analyst at NSC. "Higher sea temperatures and fewer winter ulcers have resulted in increased harvesting volumes and a higher quality of fish compared with February last year. This has had a positive effect on exports to overseas markets such as Asia and the USA."
China was the second largest growth market for salmon in February. Compared with the same month last year, the increase was NOK109 million (US$10 million), or 25 per cent. In total, salmon exports from Norway to China totalled NOK537 million (US$49.3 million) in February.
Norwegian salmon gaining market share in China
"There is underlying growth in the Chinese market," said Sigmund Bjørgo, NSC's envoy to China. "In addition, Norwegian salmon has gained market share, partly because there is more availability of large salmon from Norway.
"The Chinese salmon market is growing particularly strongly in the grocery trade and in medium-sized cities where salmon is still a relatively new and exotic product."
