In Iceland the main produced aquaculture species is Atlantic Salmon, Rainbow Trout and Artic Charr.

Production in tonnes 2017:

• Atlantic Salmon 11.265
• Artic Charr 4.454
• Rainbow Trout 4.628

The export value of salmon in 2017 was close to 12 billion ISK.

The future prognosis for Icelandic fish farming is very promising and the target is that in future the total annual production will rise to 150.000 tonnes. The timeframe on this expansion is not set, due to there being high political activity in Iceland around giving licences

But if granted this will result in over 3.000 direct and indirect jobs towards this industry alone in a country with 330.000 inhabitants. About 60 % of the population is living in the area inside and around the capital Reykjavik.

In July 2018 the unemployment rate in Iceland was 2,5%. The labour force from 16-74 years old was 252.600.

Area

Fish farming in Iceland is a rural industry and there is a strict regulation for where it is allowed to conduct sea-based farming. This is done in order to protect the wild salmon strain.

The 3 main areas of production are in the West and East-fjords in addition to one fjord in the North. The south of Iceland is not eligible for farming due to natural circumstances.

For every fjord that is open to fish farming the Marine and freshwater research institute has conducted a study of the sustainable production capacity, thus establishing the limit for how much each company can may produce in each fjord.

The maximum volume that can be sea cage farmed in Iceland today, based upon the studies of the sustainable production, is 150 000 tonnes.

Figure 1:Red Areas marks where sea cage operations are illegal.