Salmon accounted for 96% of the total value of Icelandic aquaculture exports in January.
Photo: Radarinn.
If January 2025 was the second-largest month of export value of aquaculture products in Iceland's history, January 2026 has set a new double record. "This is the largest month since the beginning of aquaculture product exports, whether measured by value or volume," claimed Radarinn, the Icelandic fisheries and aquaculture industry directory.
According to its figures, in the first month of this year, the value of Icelandic aquaculture exports amounted to just over ISK 10 billion (EUR 68.91 million / USD 79.67 million), which, compared to the same month last year, represents an increase of 26% in terms of kronas. Given that the Icelandic krona was on average just over 2% stronger this January than a year ago, Radarinn pointed out that when adjusted for exchange rate changes, the increase is 29%.
In its note on exports, the Icelandic fisheries and aquaculture industry directory also highlighted that the increase in January can be attributed entirely to salmon farming. Specifically, the value of farmed salmon exports amounted to approximately ISK 9.60 billion (EUR 66.15 million / USD 76.52 million). At constant exchange rates, this figure represents a 33% increase compared to the same month last year.
For its part, the export value of trout, which is mostly Arctic char, remained almost unchanged year-on-year, reaching ISK 300 million (EUR 2.06 million / USD 2.39 million), while there was a decline in other categories of aquaculture products. Both fertilized eggs and other farmed fish exported products worth ISK 100 million (EUR 689,181 / USD 796,954) each.
All this means that, of the total value of Icelandic aquaculture exports in January, 96% came from salmon, 3% from trout, 1% from fertilized eggs, and the remaining 1% from other farmed fish.
However, in its statement on the results for January 2026, Radarinn pointed out that part of Iceland's strong aquaculture export performance in the first month of the year can be explained by operational challenges at some aquaculture companies that had to resort to early harvesting.
The Icelandic fisheries and aquaculture industry directory said this underscores that, despite significant opportunities, the aquaculture sector faces real operational challenges in Iceland. "To ensure steady and sustainable growth, careful attention must be given to its operating environment," the statement read.
As Radarinn also pointed out, with the value of exports rising steadily, aquaculture has already become an important pillar of the country's economic activity. "The sector is still expanding and establishing itself, and it can be expected that aquaculture's share may continue to grow and contribute to greater national prosperity," it stated.
"To achieve this, productivity must be improved, the regulatory framework clarified, and predictability increased, thereby strengthening the operating environment. Both the opportunities and the challenges lie there," the Icelandic fisheries and aquaculture industry directory added.
After both Icelandic society and companies in aquaculture have long called for a clearer legal framework for the industry, since December last year, Iceland has been processing a new aquaculture bill.