Norway exported seafood worth NOK 13.4 billion (€1.25 billion) in May, down NOK 146 million (€13.6 million), or 1%, compared with the same month last year.
The decline came despite higher prices for several key species, as lower export volumes and a stronger Norwegian currency weighed on returns.
“A turbulent geopolitical backdrop, trade barriers and reduced availability of raw materials continue to affect seafood exports. So far, 2026 has been far more challenging than last year for Norwegian seafood. Despite higher prices for salmon, cod and mackerel in May, this was also a month without growth in value,” said Christian Chramer, chief executive of the Norwegian Seafood Council.
May marked the fourth month this year in which Norwegian seafood exports recorded a year-on-year decline in value. March has been the only month in 2026 to post growth compared with the same month last year.
“Lower volumes of cod, mackerel and salmon fillets dragged down the export value in May. In addition, the Norwegian krone was significantly stronger against the dollar and the euro last month than at the same time last year. This means that export prices are lower when measured in Norwegian kroner”, Chramer said.
The Middle East conflict also continued to disrupt trade flows for Norwegian salmon and trout.
“There are still many challenges relating to logistics and reduced tourism in this region. In May, Norwegian salmon saw a drop in volume of over 20 per cent to all major markets in the Middle East,” said Chramer.
In the first five months of 2026, Norway exported seafood worth NOK 70.3 billion (€6.54 billion), down NOK 1.7 billion (€158.1 million), or 2%, from the same period last year.
The United States recorded the largest decline among Norway’s export markets. Export value to the US fell by NOK 2.4 billion (€223.2 million) during the January-May period compared with a year earlier.
“May exports to the US follow the same trend, with a fall in value of NOK 363 million. This is largely due to a decline in fresh and frozen salmon fillets, which are major and important products from Norway to the US,” said Chramer.
