ICELAND’S AQUACULTURE EXPORT VALUE SURGES TO NEARLY 54 BILLION ISK IN 2024

Iceland’s Aquaculture Export Value Surges to Nearly 54 Billion ISK in 2024

Iceland’s aquaculture sector continues to show strong growth, with total production reaching nearly 54,800 tonnes in 2024—a 10% increase compared to the previous year. This expansion reflects both rising global demand for farmed seafood and Iceland’s increasing role in the international aquaculture market.

As in recent years, Atlantic salmon dominated production, with 49,300 tonnes harvested, reinforcing its position as the backbone of the country’s aquaculture industry. However, Arctic char production declined by 9%, totalling 4,800 tonnes. Other species made up less than 1,000 tonnes, highlighting the continued focus on salmon and char farming in Icelandic waters.

The export value of aquaculture products jumped by 17% year-on-year, reaching 53.8 billion ISK in 2024. Of this, salmon products alone accounted for approximately 47.7 billion ISK, underlining salmon’s dominant role not only in volume but also in value.

Global Context: Iceland Holds Niche Strengths

While Iceland’s production numbers may be modest compared to global giants, it holds a strategic position in specific segments of the market. In the broader European context—where data is available through the end of 2023—Norway remains the undisputed leader in salmon farming with over 1.5 million tonnes, more than ten times that of the second-largest producer, Scotland. The Faroe Islands and Iceland follow, rounding out the top tier of European salmon-producing nations.

When it comes to Arctic char, however, Iceland leads globally, producing approximately 5,248 tonnes and cementing its status as a key supplier of this premium species.

In contrast, rainbow trout farming in Iceland has declined significantly and is now minimal. Elsewhere in Europe, though, trout farming remains active, particularly in Italy, France, Spain, Denmark, and Finland, where consistent production levels have been maintained in recent years.

Looking Ahead

With growing emphasis on sustainable seafood and climate-resilient food systems, Iceland’s aquaculture industry appears well-positioned for continued growth. Innovations in farming technology, tighter environmental regulations, and expanding export markets may further shape the sector’s development in the coming years.

Source

Graphs Statistics Iceland – Frontpage

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