Big surge in Iceland aquaculture exports

The value of farmed products, mostly salmon, sold into overseas markets between January and May reached almost ISK 32 billion (£192m).

But taking into account exchange rate changes, the increase is more than 34%, as the ISK exchange rate was on average just over 2% stronger in the first five months of the year than in the same period last year.

Radar, the news medium for companies in the country’s seafood industry, says the share of aquaculture products in the value of Iceland’s total merchandise exports amounted to just over 8% in the first five months of 2026, a record high for this time of year.

It adds that the development in aquaculture shows how important the sector has become for exports and the economy of the country as a whole.

“However, increased value creation is not only reflected in export figures. Behind it are companies, people and communities that base their livelihoods to a significant extent on this growing industry.”

This is reflected in the increase in jobs and income in the sector. In the first four months of the year, an average of over 1,000 people worked in aquaculture, which is an increase of over 9% from the same period last year.

At the same time, employment income in the sector amounted to ISK 4.1 billion (£25m), an increase of almost 14% in nominal terms from the previous year although taking inflation into account, the increase is over 8%.