Norway exported seafood worth NOK 13.9 billion in July, an increase of NOK 1.1 billion (USD 107 million; 8%) compared with the same month last year, the Norwegian Seafood Council reported. So far this year, Norway has exported seafood worth NOK 99 billion (USD 9.7 million), the same value as in the whole of 2018.
"Seafood exports have had a historically strong July in terms of value. This is primarily due to high salmon volumes and impressive value growth to China," said Christian Chramer, CEO of the Norwegian Seafood Council. "Even though world trade is experiencing demanding times and competition in the market is tough, seafood from Norway has a strong global position. This is also true in the middle of summer.”
The largest markets for Norwegian seafood exports in July were Poland, China and the USA.
China had the highest value growth in July, with an increase in export value of NOK 613 million (USD 60 million; 88%), compared with the same month last year. In total, Norway exported seafood to China for NOK 1.3 billion (USD 123 million) in July.
“Salmon is the main driver of export value to China. A combination of record-high available volumes, lower prices and new emerging sales channels in the Chinese market contributed to the positive trend continuing in July. China is now the largest growth market for Norwegian salmon so far this year," explained Chramer.
Poland and China have overtaken the USA
Seafood exports to the US continued to grow in July compared with the same month last year. Last month, Norway exported NOK 1.1 billion (USD 107 million) worth of seafood to the US. This is an increase in value of 17% compared with July last year.
In terms of value, the US was Norway's largest export market in the first five months of the year, but in June and July, the value of Norwegian seafood exports to Poland and China was higher than to the US.
“In July, there was an increase in the value of salmon, trout, king crab and snow crab to the USA, so the Americans continue to buy large quantities of Norwegian seafood. However, the growth in value to Poland and China has been even greater. The USA is a prioritized market for us, and we continue to monitor developments related to the increased tariffs," said the CEO of the Norwegian Seafood Council.
Record volume growth for salmon
Norway exported 136,054 tonnes of salmon worth NOK 10.2 billion (USD 995 million) in July. The value increased by NOK 800 million (USD 78 million; 8%) compared with the same month last year, a growth in volume of 28%. Poland, the USA and the Netherlands were the largest markets for salmon in July.
“There is a seasonal variation in salmon exports, so a July volume of 136,000 tonnes is remarkably high. It almost equals the record volume we had in September and October last year. The reason for this is favorable biological conditions that have resulted in increased production compared with July 2024," said seafood analyst Paul T. Aandahl of the Norwegian Seafood Council.
Highest market share in 15 years in China
China had the highest value growth in July, with an increase in export value of NOK 339 million (USD 33 million; 80%), compared with the same month last year. The export volume to China ended at 9,950 tonnes, which is 121% higher than the same month last year.
“The Chinese salmon market is experiencing strong growth. In the first half of the year, the salmon category increased by 39%, while growth in the second quarter was over 50%. Through good preference and competitive prices, Norway has increased its market share to 71% in June. This is the highest market share for Norwegian salmon in China in 15 years," said Sigmund Bjørgo, the Norwegian Seafood Council's envoy to China.
Increased consumption of fresh salmon fillets in Europe
Poland, which is our largest export destination, had the second largest growth in July with an increase of NOK 291 million (USD 29 million).
“Most of the salmon to Poland is processed for export. Strong growth in the consumption of fresh salmon fillets in Europe is contributing to increased processing in Poland," said Aandahl.
The most important export markets for fresh fillets from Poland are Germany, the Czech Republic and Italy.
Value growth in the USA slowed down
“Value growth to the USA slowed down in July. Overall, exports increased by only 3%, while volume increased by 16%. Although increased tariffs may have had a negative effect, the fall in prices must mainly be seen in light of the large volume growth from Norway and globally so far this year," said Aandahl.
