Norway’s seafood exports hit 2025 Q1 record – ahead of tariffs

The latest figures from the Norwegian Seafood Council show that, once again, salmon was the big winner in what will be the last export statistics before Donald Trump’s 15% tariff levy on Norwegian seafood, announced last night, takes effect.

Ironically, the United States was the fastest growing market for Norway’s seafood between January and March this year, but China was also a fast growing market.

Total seafood exports during the quarter totalled NOK 44 billion (£3.15bn), an increase of 9% on the same period last year.

Exports to the United States were worth NOK 4.9 billion (around £350m), 56% higher than 12 months ago and is now ahead of Poland and Denmark, two previous major salmon markets.

Salmon was again the most valuable species, with an export value of NOK 29.5 billion (£2.1bn), 6% higher than a year ago.

Seafood Council CEO Christian Chramer said: “The first quarter has been characterized by increased export volumes for salmon, high prices for cod, mackerel and snow crab and strong value growth to the USA and China.

“The Norwegian krone has also been weaker in the first quarter than in the same period last year, which has also contributed to raising the export value measured in kroner.”

He added: “ The start of 2025 has been very positive for Norwegian salmon. Increased harvest volumes and more available superior quality fish have boosted exports to some of our largest and most important markets.”

Norway’s Fisheries and Oceans Minister, Marianne Sivertsen Næss, said: “The world’s great appetite for Norwegian seafood is clearly shown in the export figures for the first three months of the year. All of Norway can be proud of the great values created by small and large seafood communities throughout the country.”