Islandsbanki publishes report on the Icelandic Seafood Market

05.10.2011

Íslandsbanki has published the Iceland Seafood Market Report. In the report, the bank looks at the role and importance of the seafood industry in the Icelandic economy, the fishing activities and export statistics, the Icelandic fishery management system as well as the current financial situation of the sector.

Key highlights from the report

  • Seafood is one of the mainstays of the Icelandic economy. The value of seafood products exported in 2010 amounted to ISK 220 billionwhich is about 39% of the total value of exported goods.
  • In 2009 and 2010 the industry reach its strongest EBITDA margin, over 27%.
  • Since the beginning of 2011, the seafood product price index in kronas has increased by 9%, but the index in SDRs has increased by 2.5%.
  • Proposed changes to the ITQ system is likely to have a severe impact on the industry.

The full report is available at islandsbanki.is/seafood

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