What are the main industries in Iceland?

For centuries, the leading industries in Iceland were agriculture, forestry, and fishing. In the 19th century, about 80% of the Icelanders depended on agriculture as a source of food and income. However, over the years, there has been a steady decline in the number of people involved in farming to about 5% of the total population.

What is the importance of energy production & services in Iceland?

Energy production and related industries & services play a very important role in Iceland’s economy. Renewable energy sources (hydro and geothermal) provide 100% of Iceland’s electricity needs. In fact, the Icelandic hydro- and geothermal power sector generate more electricity per capita than any other country in the world.

Is aquaculture a big industry in Iceland?

By contrast, aquaculture remains a very small industry in Iceland, employing only around 250 people for a production of 5,000 tonnes. Iceland is the second biggest fisheries nation in the North East Atlantic behind Norway, having overtaken the United Kingdom in the early 1990s.

Does Iceland have a tourism sector?

Iceland is one of the most tourism dependent countries on earth. In October 2017 the tourism sector directly employed around 26,800 people, with the total number of employees in the country being 186,900. At the start of the growth period around 2010 tourism benefited from a weak ISK but a strong ISK is now cooling down the sector.