Value of Iceland's Q1 2025 fish catch increased 17 per cent

The total value of Iceland's fish catch in the first quarter of 2025 was just over ISK47 billion ($388.3 million), a 17 per cent increase compared to the same period in 2024, according to new figures released by Statistics Iceland.

The value of the demersal fish catch, which makes up the bulk of the total, increased by 23 per cent to ISK41 billion. Within this category, the value of the key cod catch rose by 18 per cent to ISK27.2 billion, while the haddock catch saw a significant 68 per cent increase in value to ISK7.4 billion. Saithe was the only major demersal species to see a decrease, with its value falling by four per cent.

In contrast, the value of the pelagic catch decreased by one per cent to ISK4.2 billion. This was driven by a 32 per cent drop in the value of the blue whiting catch compared to the same period last year.

The value of the flatfish catch fell by 34 per cent to ISK1.75 billion, while the shellfish catch value saw the largest decline, dropping 41 per cent to ISK70 million.