When adjusted for fixed prices, Statistics Iceland found a 9% increase in fisheries export production in 2022 compared to 2012.
Photo: Statistics Iceland.
Iceland's fisheries exports saw a notable decrease in 2023, with total exports amounting to 685 thousand tonnes, a reduction of 57 thousand tonnes compared to the previous year, according to figures released today by Statistics Iceland.
However, despite the decline in volume, Iceland's seafood export value remained relatively stable, reaching ISK 353 billion (USD 2.59bn / EUR 2.33bn), down slightly from ISK 359 billion (USD 2.64bn / EUR 2.37bn) in 2022.
Frozen seafood products contributed the largest share of the export value at 44%, followed by fresh products at 25%, and fish meal and fish oil, which accounted for about 20%. Among specific species, frozen cod products generated the highest export value at ISK 50 billion (USD 367m / EUR 330m), while fresh cod products followed closely at ISK 38 billion (USD 279m / EUR 250m).
Norway was the largest recipient of Icelandic fisheries exports by volume, accounting for 20% of the total, though this represented only 11% of the total export value. Meanwhile, Great Britain received 13% of the exports, representing 16% of the total value.
While the overall export value of fisheries products remained nearly unchanged from 2022, Statistics Iceland notes that, when adjusted for fixed prices, there was actually a 9% increase in export production compared to 2012, highlighting the sector's growth over the past decade.
Table showing export volume and export value of some marine products from Iceland between 2022-2023, in thousands of tons and millions of Icelandic Kroner (ISK).