Norway’s seafood export value dropped slightly in October, as a strengthened krone resulted in the same slight declines that have occurred throughout the latter half of 2026.
According to data collected by the Norwegian Seafood Council (NSC), Norway exported seafood worth NOK 18.2 billion (USD 1.92 billion, EUR 1.72 billion) in October, marking a drop of NOK 48 million (USD 5.1 million, EUR 4.5 million) year over year. The relatively flat value was due to a combination of record salmon export value and a drop in value for multiple wild-caught species.
A stronger krone also had a big impact, NSC CEO Christian Chramer said.
“Despite higher export prices for cod, mackerel, trout, saithe, herring, and prawns, a stronger Norwegian krone contributed to the total export value remaining at the same level as last year,” Chramer said. “Measured against the U.S. dollar and the euro, the Norwegian krone was significantly stronger in October than in the same month last year. This reduced the export value measured in Norwegian kroner.”
According to DNB Bank, the exchange rate for the krone has shifted in 2026 toward a stronger value for the currency, impacting export value numbers. On average in 2026, the currency has strengthened against the U.S. dollar and the euro, which has resulted in a lower value in terms of krone. In terms of the U.S. dollar and the euro, Norway’s seafood export value actually increased. In 2025, the seafood export value in October was worth roughly USD 1.79 billion, or roughly USD 130 million lower than in 2026. The same is true of the euro, with exports in 2025 being worth EUR 1.56 billion, which is EUR 160 million less than they were worth in October 2026.
The country’s salmon industry managed to achieve record-breaking exports in the month despite the stronger krone. By volume, the country exported 159,810 metric tons (MT) of salmon in October, an increase of 9 percent over the same month in 2025 and the highest export value for salmon ever recorded in a single month.
By value, Norway exported salmon worth NOK 13 billion (USD 1.4 billion, EUR 1.2 billion) in October, an increase of NOK 734 million (USD 77.5 million, EUR 69.6 million), or 6 percent, over the same month in 2025. That total, too, is the highest single-month value in Norway’s history, beating the record set the month before.
Much of that increase was driven by strong growth in the value of exports to Poland, which rose 12 percent, or NOK 246 million (USD 26 million, EUR 23.3 million), over the same period of 2025. So far, in 2026, Poland has imported 27 percent more salmon by volume, and value has increased 5 percent to NOK 5.2 billion (USD 549.5 million, EUR 493.1 million).
“As Norwegian salmon exports to Poland increase, both domestic consumption and re-exports of salmon are growing. So far this year, household consumption has increased by as much as 19 percent, while export volumes from Poland have risen by 10 percent,” NSC Market Analyst Paul T. Aandahl said. “Increased purchasing power has helped make Poland one of the fastest-growing consumer markets for salmon in recent years.”
Norway’s exports to Poland have been consistently high in 2026, largely thanks to its appetite for Norwegian salmon. The SeafoodSource Pricing Portal has shown Poland consistently at the top of export volumes.
Outside of salmon, Norway’s wild-caught seafood exports have dropped in October compared to 2025. The country exported the lowest volume of frozen cod in 35 years, shipping just 2,745 metric tons (MT) of the product, worth NOK 267 million (USD 28 million, EUR 25 million). That’s a drop of 8 percent and 6 percent, respectively, and is largely related to low quotas.
“So far this year, export volume of frozen cod has fallen by 26 percent to 23,100 MT,” NSC Market Analyst Eivind Hestvik Brækkan said. “This is the lowest export volume recorded in the first 10 months of a year since 1991, which was the last time cod quotas were lower than they are this year.”
Fresh cod volumes also dropped, but values increased. Norway exported 2,489 MT of fresh cod, a drop of 5 percent. However, the value of that cod reached NOK 214 million (USD 23 million, EUR 20 million) in October, marking an increase of NOK 12 million (USD 1 million, EUR 1 million), or 6 percent, compared to October 2025.
Of that total, 65 percent of the value came from farmed cod, as aquaculture is becoming increasingly important to fresh cod exports from Norway.
“So far this year, farmed cod has accounted for 46 percent of the export value of fresh cod, compared with 36 percent in the same period last year,” Brækkan said.
Mackerel exports also saw a drop in value and volume year over year. Norway exported 13,787 MT of mackerel in October, representing a drop of 50 percent compared to October 2025. Value fell to NOK 758 million (USD 80 million, EUR 72 million), a drop of NOK 631 million (USD 67 million, EUR 60 million), or 45 percent.
“The decline in mackerel exports is due to lower quotas and reduced availability of mackerel for export,” Aandahl said. “This is being felt across all the major markets in Asia. At the same time, prices remain high. The average export price for mackerel was 10 percent higher than in October last year.”
Herring was one of the few bright spots for wild-caught exports, with the value increasing to NOK 445 million (USD 47 million, EUR 42 million) in October, up NOK 64 million (USD 7 million, EUR 6 million), or 17 percent, compared to 2025. That increase was largely thanks to solid pricing, as volume fell 4 percent to 16,197 MT.
