HS Code:
The Salmon category, classified under HS Code 0302 (fresh or chilled salmon) and HS Code 0304 (frozen salmon fillets), encompasses a variety of salmon species including Atlantic, Pacific, and other farmed or wild-caught salmon. This category is a significant part of the global seafood trade, driven by high demand for salmon in both fresh and processed forms due to its nutritional value, versatility in culinary applications, and increasing consumer preference for healthy protein sources. Salmon trade is influenced by aquaculture production, environmental regulations, and international trade agreements.
Total Trade Volume
Approximately $25 billion USD
Data from 2022
Source
United Nations Comtrade Database & FAO Fisheries Statistics
$11.5 billion USD
46% of global trade of total trade
Increasing
$5.2 billion USD
21% of global trade of total trade
Increasing
$1.8 billion USD
7% of global trade of total trade
Stable
$1.5 billion USD
6% of global trade of total trade
Stable
$1.2 billion USD
5% of global trade of total trade
Increasing
Average Rate
5-10% ad valorem
Highest Rate
Up to 20% in certain markets like India and Brazil
Lowest Rate
0-2% under free trade agreements (e.g., EU-Norway agreement)
Rising demand for sustainable and organic salmon
Increased focus on certifications like ASC (Aquaculture Stewardship Council) and higher prices for certified products
2021-2023
Growth in aquaculture production
Led to higher supply and price stabilization, especially from Norway and Chile
2018-2022
Shift toward value-added products
Growing exports of smoked, canned, and ready-to-eat salmon products rather than raw fillets
2020-2023
Negotiations concluded to reduce tariffs on Norwegian salmon exports to the EU, strengthening Norway's market dominance.
March 2023
Expected to increase Norwegian salmon exports by 10% to EU markets in 2024.
Reports of Infectious Salmon Anemia (ISA) in Chilean farms raised concerns, leading to temporary export restrictions in some regions.
July 2022
Short-term reduction in Chilean exports by 5%, with potential price increases globally.
Increased investments in domestic salmon aquaculture in the US to reduce reliance on imports.
October 2023
Could reduce import volumes from Canada and Chile in the long term, affecting global trade patterns.