A total 1,414,598 tonnes of fisheries products were caught by Iceland’s fishing fleet in 2022, representing an increase of 23% on the previous year, new industry figures from Statistics Iceland confirm. These landings generated a first-sales value total of ISK 195 billion, up 20% or almost ISK 33 billion.

Following the increased catch, more than 707,000 tonnes of fisheries products were exported from Iceland last year, a 9% increase on 2021. These earned ISK 352 billion (FOB) which was 18.3% more than the previous year. Of this around ISK 141 billion, or 40%, was from the export of cod and cod products.

In terms of markets, ISK 54 billion worth of products were exported to the United Kingdom, which remained Iceland’s largest export market. France and Norway followed – both with export values of around ISK 40 billion. Norway imported 167,000 tonnes, mostly pelagic species for fishmeal production, while France imported 40,000 tonnes of products, including about 20,000 tonnes of cod products.

With regards to fishery categories, the fleet’s demersal landings in 2022 totalled 464,562 tonnes, which was 8% lower than a year previously, but with the value climbing 16% to ISK 141 billion. Within this, cod accounted for 243,483 tonnes and ISK 85.3 billion, with the volume falling 10% and the value rising 13%.

At the same time, 57,026 tonnes of haddock earned ISK 20.6 billion, 62,039 tonnes of saithe made ISK 14.5 billion, and 39,658 tonnes of redfish generated ISK 9.8 billion.

Last year’s flatfish catch decreased 23% in volume to 19,080 tonnes, earning ISK 10.5 billion (+5%), while its shellfish landings were down 3% to 6,084 tonnes, with a value of ISK 1.2 billion (-23%).

Thanks to a bumper capelin catch, pelagic landings totalled 955,954 tonnes, up 47% compared with 2021. The sector’s value was almost ISK 47.7 billion (+41%).

The fleet’s capelin catch of 449,934 tonnes was 207% more than in the previous year. Its value soared 80% to ISK 19.5 billion. Also in the category, the herring volume remained steady at 184,320 tonnes, valued at ISK 12.1 billion.

The increased earnings are creating a perfect platform for business discussions at Icefish, back in September 2024 running from 18-20, celebrating 40 years of bringing the sector together in Iceland - for more information on the exhibition or booking stands please contact the events team on info@icefish.is


Iceland Fish

Iceland Fish

Iceland exported more than 707,000 tonnes of fisheries products last year, with a value of ISK 352 billion (FOB)