The economic impact of the ocean cluster in Iceland grows for the second year in a row and now amounts to 28.4% of GDP according to a new study by the Iceland Ocean Cluster. Furthermore, the study shows:

» In total the ocean cluster creates between 25 and 35 thousand jobs or 15-20% of Iceland’s workforce

» Ocean technology and advance marine processing are the two sectors that have grown the most in the past years.

» Turnover in ocean technology was 66 bn ISK in 2012 and grew by 13% since 2011

» Turnover in advanced marine processing (ocean-biotechnology and by-product processing) was 22 bn ISK in 2012 and grew by 17% since 2011.

For more information, please contact economists Haukur M. Gestsson (haukur[at] or Bjarki Vigfusson (bjarki[at]