Icelandic Fish Catch Falls in March
The landed catch of Icelandic vessels in March 2019 was over 118 thousand tonnes which is a 25% decrease from March 2018. Much of the fall can be attributed to the pelagic catch, since no capelin was caught in the period, compared with over 80,000 tonnes the previous March.
Demersal catch was just over 52 thousand tonnes and decreased by 2% compared with March 2018. In the 12 month period from April 2018 to March 2019 the total catch has increased by 6% compared with the same period one year earlier. The value index in March is 15.6% lower than in March 2018.
Commercial Fisheries is one of the pillars of the Icelandic economy, responsible for a fair share of GDP and the nation’s export revenue. Iceland is one of the world’s leaders in fisheries, but has in recent years also become a leading country in the advancement of marine technology, fishing equipment, navigational techniques and fish detection instruments, as well as maintaining a sophisticated seafood sector, exporting world-class produce.
Iceland’s exclusive fisheries zone has an area of 760,000 square kilometers, seven times the area of Iceland itself. Some of the largest fish stocks in the North Atlantic are found in Icelandic waters, including the cod stock, which is Iceland’s most important stock.