Atlantic salmon produced in aquaculture systems is now second only to wild-caught cod in terms of how much export income it brings into Iceland’s economy, according to data compiled by Radarinn, a dashboard maintained by Fisheries Iceland, a federation of companies in the Icelandic seafood industry.
Cod has long been the fish species that brings the most export earnings to Iceland, and this continued to be the case last year, with the fishery contributing ISK 136 billion to Iceland’s economy.
Frequently ranked in second place, capelin was surpassed by farmed salmon last year. In 2023, farmed salmon brought ISK 37 billion into the economy, while capelin fishing contributed ISK 32 billion.
The majority of Iceland’s fish farms now raise salmon, and most use open pens in Iceland’s fjords. Indeed, open-net fish farming in Icelandic waters grew more than tenfold between 2014 and 2021.
Yearly production rose from under 4,000 tonnes to nearly 45,000 tonnes over this period, with more than 99% of that production being farmed salmon.
Meanwhile, a new survey conducted by Gallup has found that more than 65% of Iceland’s population is against open-net fish farming. According to the survey, less than 14% said they were positive towards the industry.
