The total catch of the Icelandic fishing fleet fell sharply in 2024, reaching just over 994,000 tonnes, 28% less than in 2023, according to new figures from Statistics Iceland.
The total value of the catch dropped by 13% to ISK 171 billion (EUR 1.16 billion). The main reason for the fall was the absence of a capelin season, which removed what in 2023 had been a major pelagic contributor.
Demersal catch holds steady
Despite the overall decline, the demersal catch increased by 4%, reaching 420,000 tonnes worth ISK 129 billion, a 2% rise year-on-year. Cod catches were up slightly at 221,700 tonnes, haddock rose 21%, while saithe dropped 9%. Flatfish and redfish also performed steadily, with small gains in both volume and value.
Pelagic collapse after capelin loss
The pelagic segment dropped 42%, landing 549,000 tonnes with a value of just ISK 29 billion, half the 2023 level. Capelin disappeared entirely from the 2024 landings, while mackerel fell 37% and herring 28%.
Only blue whiting saw growth, with catches up to 324,000 tonnes, an 11% increase in value.
Outlook
The data underline Iceland’s reliance on pelagic species, especially capelin, for export income. While demersal species provided a stable backbone, the absence of capelin drastically cut total export value.
The recovery of capelin stocks and permission for future fishing will be key to whether Iceland’s overall catch value rebounds in 2025.