The Icelandic Fishing Industry: a Comprehensive Overview Until the end of 2001

Abstract

This paper gives a short but comprehensive overview of the Icelandic fish industry, itshistory, development and structure until the end of the year 2001. The definition of a fishindustry will focus on catching (the fishing sector and fish farming), processing andexport.The paper reveals a revolutionary development in the Icelandic fish industry froma supplement to farming in the Middle Ages to a modern high-tech industry. The fishindustry in Iceland is at present one of the central industries in the country, and has aleading position in the world. The authors argue that these developments have beenbrought about by structural transformations, such as the introduction of a quota system,technical development, deregulation and privatisation, mergers and increasedconcentration, as well as changes in export and marketing.JEL classification: O3, Q22Keywords: Fishing industry, Iceland, catching, processing, export