Iceland’s aquaculture export surge hits new heights

The country has reported that the monthly export value of farmed fish, mostly salmon, hit 6.6 billion Icelandic kronur (ISK) in March this year, worth around £40m.

This is more than double on the same month last year and output is continuing to surge almost week on week.

A number of significant aquaculture projects are due to come into operation over the next two  to three years.

The total export value of aquaculture products has now reached more than  ISK 22 billion (£134 million)  in the first quarter of 2026, which is the highest value achieved in a single quarter since the beginning.

The weight of aquaculture products among the value of all exported goods  amounted to just over 9% between January and March this year. 

The Association of Icelandic Fishery Companies said that large-scale investment by a number of companies is behind the development that has taken place in aquaculture.

It added: “Aquaculture is a capital-intensive industry, especially in the early stages of development, and this is clearly reflected in the increased capital formation in the industry in recent years.

“Capital formation has increased rapidly and has been increasing from year to year. This indicates that companies in the industry, both in sea cage and land-based aquaculture, see continued opportunities for growth in the coming years.

“This is very positive because sustainable export growth is the basis for sustainable economic growth and improved living standards,” said the Association.