Íslandsbanki’s Fishing Industry Report 2016 published
The total catch value for 2015 was ISK 151 bn, an increase of 9.2% year-on-year, at constant prices. This is among the information included in Íslandsbanki’s Fishing Industry Report, published today. Cod was the most valuable export species in 2015, as it has been for the past six years.
According to the report, Iceland is the third-largest fishing country in Europe, with over a million tonnes of landed catch. Some 87% of the total value of marine product exports during the year went to Iceland’s 15 leading marine product trading partners.
The report also states that increased has led to increased debt within the sector, but at the same time it has contributed to more efficient operations, increased productivity, and improved profitability. Larger companies with quotas for a broader range of species are better prepared to face cyclical swings in operations.
The Fishing Industry Report presented today at Eldheimar in the Westman Islands Runólfur Geir Benediktsson of Íslandsbanki’s Corporate Finance division, reviewed the highlights of the report. Participating in the discussions were Sigurgeir Brynjar Kristgeirsson, CEO of Vinnslustöðin hf., and Stefán Friðriksson, CEO of Ísfélagið. Þórdís Úlfarsdóttir, branch manager at Íslandsbanki’s branch in the Westman Islands, directed the discussions and acted as meeting manager.
The report can be found on the Íslandsbanki website.