By Elías Thorsson
REYKJAVÍK — THE ICELANDIC fishing industry posted a 23% annual increase in the volume of fish caught in 2022, according to recent figures from Hagstofa Íslands, the national statistics agency.
The first-sale value — the amount earned at auction by registered buyers — of the 1.4 million tons landed last year was 195 billion króna (€1.3 billion), a 20% increase compared with the previous year.
The fishing industry accounts for 17% of Iceland’s exports (second after tourism at more than 40%), and Hagstofa Íslands estimates that value of Icelandic fish sold abroad amounted to 350 billion króna.
Groundfish made up the most valuable segment of the catch, earning 136 billion króna, with cod (85 billion króna) and haddock (21 billion króna) being the two primary species.
The value of the pelagic catch was 48 billion króna, with capelin making up close to half the value (19.5 billion króna).
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This article has been fact-checked by Arctic Business Journal and Polar Research and Policy Initiative, with the support of the EMIF managed by the Calouste Gulbenkian Foundation.
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