With a very long and protected coastline, the Norwegian fisheries and aquaculture sectors have some of the most productive fishing grounds among OECD countries. Capture fisheries produce 2.5 million metric tons with a total value at first hand of NOK 11.7 billion from a wide variety of species. Aquaculture production of Atlantic salmon and rainbow trout was an additional 645 000 tons in 2005, valued at NOK 13.4 billion.

The Ministry of Fisheries and Coastal Affairs is responsible for the fisheries and aquaculture industries, ports and sea transport infrastructure. The administrative measures applied to limit fishing effort in Norwegian fisheries are licences and annual permits, combined with Individual Vessel Quotas (IVQ) . All commercial fishing by trawlers and purse seiners requires a license. Long-liners and coastal vessels are regulated through annual permits. Aggregated catch levels are controlled mainly through TACs, which are set annually and cover approximately 95% of the landed value of fish. Only active fishermen are permitted to own fishing vessels in Norway, but dispensations have been granted to allow some industrial corporations to vertically integrate into the catch sector.