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The Icelandic fishing industry

Íslandsbanki has issued seafood industry reports since 2003. The reports support the Bank's fishing industry focus by analysing the current status, recent developments and the outlook for the sector. We hope these reports give stakeholders a comprehensive view of the scope of the sector and its impact on Icelandic society.

Much has changed in the 100 or so years since the fishing industry motorised its fleet in 1902 when a Danish 2 HP motor was installed in a conventional rowboat in Ísafjörður. Íslandsbanki was founded at around that same time on 7 June 1904. The main objective of this new enterprise, which had been in preparation for several years, was to support the coming revolution in Icelandic fishing. The Ísafjörður experiment marked the beginning of the mechanisation of the Icelandic fishing fleet, which progressed quickly from then on.

The status of the sector has changed radically, and Iceland has become a global leader in the fishing industry. Íslandsbanki is proud to partner with a number of Icelandic fishing companies and plans to continue to support them in the future.

Open report (pdf)