Norway Seafood Exports Fall 2% in May After 10-Month Growth Amid Salmon Price Drop

Norway's seafood export value declined by 2% in May 2025 to NOK13.6 billion ($1.26 billion), ending a 10-month streak of growth primarily due to a record drop in salmon prices amid increased global production. Despite a 38% rise in salmon export volumes to 112,846 tonnes, the average price fell 35%, significantly reducing total export value. The U.S. market was a notable exception, with seafood exports rising 40% year-on-year, driven by strong demand for salmon, snow crab, and trout, even in the face of a 10% tariff. China also showed significant growth, with salmon imports up 181% in value and 123% in volume year-to-date. Other factors contributing to the export value decline included a stronger Norwegian krone and lower clipfish exports. Overall, while salmon prices and export values fell, Norway's total seafood exports in the first five months of 2025 increased by 5%, highlighting continued demand in key markets such as the U.S., Poland, and Denmark.