The economic importance of the Icelandic fisheries cluster-Understanding the role of fisheries in a small economy

► The contribution of the fisheries cluster to the Icelandic economy is estimated. ► Economic mapping techniques are utilized. ► The fisheries cluster is a base industry within the Icelandic economy. ► The direct, indirect and induced impact of the fisheries cluster is 7-10% to the GDP. ► The sector has aided the development of strong export based downstream industries.