Norway's October seafood export value edges down NOK 48 million year-on-year, salmon monthly export value still hits record high

Data released by the Norwegian Seafood Council (NSC) on November 6, 2026 show that Norway's seafood exports in October 2026 totaled NOK 18.2 billion (about USD 1.92 billion, EUR 1.72 billion), down NOK 48 million (about USD 5.1 million, EUR 4.5 million) from the same month in 2025. NSC CEO Christian Chramer said that although export prices for cod, mackerel, trout, saithe, herring and shrimp all rose, a stronger Norwegian krone kept total export value flat with last year.

Chramer noted that measured in US dollars and euros, the Norwegian krone was clearly stronger in October 2026 than in the same month last year, which pushed down export value denominated in NOK. Data from DNB Bank show that the krone strengthened overall in 2026, appreciating against both the US dollar and the euro. In US dollar terms, Norway's seafood export value in October 2025 was about USD 1.79 billion, about USD 130 million lower than in October 2026; in euro terms, it was EUR 1.56 billion in October 2025, EUR 160 million lower than in October 2026.

Salmon was the main support for exports during the month. In October 2026 Norway exported 159,810 tonnes of salmon, up 9% year-on-year; export value was NOK 13 billion (about USD 1.4 billion, EUR 1.2 billion), up NOK 734 million (about USD 77.5 million, EUR 69.6 million) year-on-year, an increase of 6%. This export value set a new all-time record for Norway's monthly salmon exports, surpassing the record just set the previous month.

Growth in exports to Poland contributed significantly. In October 2026, the value of Norway's salmon exports to Poland rose 12% year-on-year, an increase of NOK 246 million (about USD 26 million, EUR 23.3 million). Year to date in 2026, Poland's imports of Norwegian salmon rose 27% in volume and 5% in value to NOK 5.2 billion (about USD 549.5 million, EUR 493.1 million). NSC market analyst Paul T. Aandahl said that as Norway's salmon exports to Poland increase, both domestic consumption and re-exports in Poland are growing; Polish household consumption has risen 19% so far this year, and the volume of salmon re-exported from Poland is up 10%. Aandahl said stronger purchasing power has made Poland one of the fastest-growing salmon consumption markets in recent years. According to the SeafoodSource pricing portal, Poland consistently ranks among the top destinations for Norwegian salmon export volume.

Exports of wild-caught species generally declined in October. Frozen cod exports totaled only 2,745 tonnes, with export value of NOK 267 million (about USD 28 million, EUR 25 million), down 8% and 6% year-on-year respectively, the lowest in 35 years. NSC market analyst Eivind Hestvik Brækkan said frozen cod export volume has fallen 26% to 23,100 tonnes so far this year, the lowest level for the period since 1991, the last year in which the cod quota was lower than this year's.

Fresh cod export volume fell but export value rose. In October 2026 Norway exported 2,489 tonnes of fresh cod, down 5% year-on-year; export value was NOK 214 million (about USD 23 million, EUR 20 million), up NOK 12 million (about USD 1 million, EUR 1 million) year-on-year, an increase of 6%. Of this, 65% of export value came from farmed cod. Brækkan said farmed cod accounted for 46% of fresh cod export value so far this year, compared with 36% in the same period last year.

Mackerel export volume and value both fell sharply year-on-year. In October 2026 Norway exported 13,787 tonnes of mackerel, down 50% year-on-year; export value fell to NOK 758 million (about USD 80 million, EUR 72 million), a decrease of NOK 631 million (about USD 67 million, EUR 60 million), or 45%. Aandahl said the decline in mackerel exports stems from a reduced quota and a lower volume of mackerel available for export, which has been felt in all major Asian markets; at the same time prices remain high, with the average mackerel export price 10% higher than in October last year.

Herring was one of the few wild-caught export categories to achieve growth. In October 2026 Norway's herring export value was NOK 445 million (about USD 47 million, EUR 42 million), up NOK 64 million (about USD 7 million, EUR 6 million) year-on-year, an increase of 17%; export volume fell 4% to 16,197 tonnes, with the export value growth mainly driven by firm prices.