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The Icelandic marine industry generates up to 30% of GDP

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Staff writer ▼ | November 15, 2014
A new report by the Iceland Ocean Cluster describes 2013's economic impact and performance of the so-called Icelandic ocean cluster, which includes fisheries, seafood processing, ocean technology, biotechnology, aquaculture and related service sectors.
Iceland fishing
Fish   The ocean industries are key for Iceland
According to the report, the ocean industries generate 25-30% of Iceland's gross domestic product and between 15-20% of employment.

According to the report, last year was marked by a considerable upsurge in investments in the fisheries industry, increased exports of fresh seafood products, continued growth in the marine technology sector, growing demand for marine related education, a lively ocean biotech sector, increased whitefish catches and a reduction in pelagic fish catches.

Moreover, many of these trends are expected to continue in the near future.