Norway exported seafood worth NOK13.4 billion (US$1.42 billion) in May 2026, a decrease of NOK146 million (US$15.5 million) or one per cent compared with the corresponding month last year.
"A turbulent geopolitical backdrop, trade barriers and less available raw materials continue to characterise seafood exports," said Christian Chramer, CEO of the Norwegian Seafood Council (NSC). "So far, 2026 has been far more demanding than last year for Norwegian seafood.
"Despite increased prices for salmon, cod and mackerel in May, this was also a month without value growth."
May is the fourth month this year with a decline in the value of Norway's seafood exports. So far this year, it is only in March that there has been value growth compared to the corresponding month last year.
"Lower volumes of cod, mackerel and salmon fillets pulled down the export value in May," added Chramer. "In addition, the Norwegian krone was considerably stronger against the dollar and euro last month than at the same time last year. This means that export prices are lower measured in Norwegian kroner."
NSC said the war in the Middle East also left its mark on the flow of goods for salmon and trout in May.
"There are still many challenges related to logistics and reduced tourism in this region," said Chramer. "In May, Norwegian salmon had a volume decline of over 20 per cent to all major markets in the Middle East."
So far this year, Norway has exported seafood worth NOK70.3 billion (US$7.44 billion). This is a decrease of NOK1.7 billion (US$180,000), or two per cent, compared with the same period last year.
NSC said the US is the market that has fallen the most in the first five months of the year. The decrease in the export value is a total of NOK2.4 billion (US$250,000) compared with the same period last year.
"May exports to the US followed the same trend, with a fall in value of NOK363 million (US$38.4 million)," Chramer explained. "This is largely due to a decline in fresh and frozen salmon fillets, which are large and important products from Norway to the USA."
Poland and China were also Norway's largest growth markets in May 2026, with an increase in export value of NOK377 million (US$39.9 million) and NOK315 million (US$33.3 million), respectively.
"While Poland's growth is primarily driven by fresh whole salmon, there is a great demand for seafood for raw consumption in China," said Chramer. "It is especially salmon and shrimp that are growing."
The three largest emerging markets in May 2026 measured in value are the following: Poland (up 29 per cent from May 2025); China (up 37 per cent); and Sweden (up 27 per cent).
This year, Norway's seafood exports have been characterised by significantly lower volumes for a number of some larger species, which is due to quota reductions.
"In the first five months of the year, the export volume has fallen sharply for species such as cod (down 29 per cent), mackerel (down 55 per cent), saithe (down 30 per cent), shrimp (down 34 per cent), and king crab (down 54 per cent)," Chramer said.
"We also saw this development for several of our largest wild-caught species in May. The landing volume for cod was, among other things, the lowest recorded in a month of May in this millennium."
Norway exported 111,062 tonnes of salmon worth NOK9.6 billion (US$1 billion) in May 2026. The value increased by NOK101 million (US$10.7 million), or one per cent, compared with the same month last year.
The volume is the same as in May last year, while Poland, China and Spain were the largest markets for salmon in May.
Poland had the largest increase in value in May, with an increase in export value of NOK299 million (US$31.6 million), or 27 per cent, compared with the same month last year. The export volume to Poland ended at 18,337 tonnes, which is 29 per cent higher than in the same month last year.
