Norway’s fishing industry is one of the main pillars of the nation’s economy as it’s responsible for the employment of thousands and contributes greatly to Norway’s international trade relations. In 2018, Norway produced 4 million tonnes of fish, including molluscs and crustaceans, valued at USD 10,814.6 million. With this sort of output, Norway clearly positions itself as a global leader in aquaculture and fisheries.
A key trend in Norway's fishing industry is the growing dominance of aquaculture, which accounted for 77% of the total value of fish production in 2018. This sector has experienced remarkable growth, with production increasing by 104% between 2008 and 2018. Aquaculture not only drives economic prosperity but also plays a crucial role in meeting global demand for seafood. Employment in Norway’s seafood sector has also seen a notable uptick, with 31,367 jobs recorded in 2018, representing a 10% increase since 2008. This growth indicates the industry’s overall importance as a source of livelihood for thousands of Norwegians across various roles, including processing and aquaculture operations. Despite advancements in aquaculture, Norway’s traditional fisheries sector remains significant, contributing 23% of the total fish production value. The country’s fleet, consisting of 6,025 powered vessels in 2018, continues to support both small-scale and industrial fishing operations.
Government support plays a vital role in sustaining Norway’s fishing industry, with policies aimed at maintaining employment, improving welfare, and ensuring environmental sustainability. In 2018, Norway invested NOK 1,406.6 million in financing fisheries services. A notable aspect of Norway's approach to fisheries management is its focus on sustainability and responsible resource utilization. Investments in education, training, and research and development lay the foundation for sustained innovation and the development of best practices. As of now, all indications point to an upward trajectory, driven by a combination of technological innovation, sustainable practices, and government support.