Norway exported NOK 15.3 billion worth of seafood products in January 2025, representing an increase of NOK 1.9 billion or 14%, compared with the same month last year, according to new figures published by the Norwegian Seafood Council (NSC).
“January was characterised by increased export volumes for salmon and solid value growth for several of our wild-caught species. In addition, the Norwegian krone has weakened against both the dollar and the euro compared with January last year. In terms of value, this was the best January ever for Norwegian seafood exports,” NSC CEO Christian Chramer said.
In value terms, the US was the largest single market for Norwegian seafood exports in January, with NOK 1.5 billion worth of fish and shellfish shipped to the market. This accounted for 9.7% of the month’s total seafood exports.
“Even though President Donald Trump has talked a lot about increased tariffs for his trading partners, we note that January was a historic month for Norwegian seafood exports to the US. Never has Norway exported fish and shellfish worth as much to the US market as we did in January. This shows that seafood is also important for Norway in trade with the US,” Chramer said.
The US also saw the greatest growth in value in the period, with an increase of NOK 428 million or 41% compared with January last year.
“Over time, the US has developed into one of our most important individual markets. In January alone, we sold more than NOK 1 billion worth of salmon to the US, which is a new value record. This emphasises the importance of having the best possible trade agreements, including with the USA,” Chramer said.
NSC’s analysis determines the main seafood species exported to the United States in January in terms of value were salmon: NOK 1.1 billion (+39%), trout: 110.6 million (+55%), king crab: NOK 105 million (+81%), mackerel: NOK 31.7 million (+41%) and haddock: NOK 23.2 million (+7%).
Chramer also confirmed that salmon and trout have enjoyed good production conditions this autumn and winter with high sea temperatures, which has ensured good growth for the fish.
“As a result, we exported more salmon in January than in the same month last year,” he said.
Norway exported 95,100 tonnes of salmon worth NOK 10.9 billion, with the January value up NOK 1.2 billion or 13% on the same month last year. The volume was 10% higher.
The US, Poland and France were the largest markets for salmon in January. Of these, the US saw the greatest growth in value – up NOK 319 million or 39% year-on-year.
The export volume to the US ended at 7,313 tonnes, which is 40% than in the same month last year. January is generally a strong month for salmon exports to this market. As such, the US was also the largest market for salmon in January 2023.
“The strong growth in exports of salmon and trout to the USA is partly due to the fact that there was a lot of fish of the right size and quality available for the US market in January. The further weakening of the Norwegian krone against the US dollar is also a factor,” said Anne-Kristine Øen, NSC’s envoy to the United States.
China was the second largest growth market in January, with growth of NOK 284 million, totalling NOK 769 million
“Favourable production conditions have increased the availability of salmon sizes that are in demand in China. In addition, the Chinese New Year came earlier than last year. This has given an extra boost to salmon exports in January,” NSC Seafood Analyst Paul Aandahl said.
The price of fresh salmon fillets is at a record high of NOK 160 per kg. This is NOK 1 per kg higher than the previous record month, which was in April 2023.
Aandahl also noted a strong trade increase for trout, with Norway exporting 7,174 tonnes worth NOK 687 million in January, with both the volume and value rising 58% year-on-year. Ukraine, US and Thailand were the largest markets for trout in January.
Meanwhile, January is an especially important month for Norwegian cod. But 2025’s cod quota has been reduced by 25%, giving the country the lowest quota since 1991.
“The quota reduction is necessary to ensure a sustainable cod stock, but of course it also affects exports. Lower available volumes have resulted in strong price growth for skrei and other cod products in January. At the same time, it illustrates the difficult situation for the Norwegian onshore industry, with increasingly tough competition for raw materials for processing into fillets, salted fish, clipfish and stockfish,” Chramer said.
Norway exported 3,317 tonnes of fresh cod worth NOK 267 million in January, with the volume falling 5% year-on-year and the value rising 17%. The country also sold 3,607 tonnes of frozen cod worth NOK 294 million to overseas markets, representing volume and value declines of 52% and 20% respectively.
