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Iceland is an island located in the North-Atlantic between continental Europe and Greenland. As an island the sea plays a significant role in the country's survival and economy. Fishing has been an important industry and the biggest part of its economy since its settlement in 874. In 1262 Iceland became a part of the Norwegian kingdom and in the 14th century its possession passed to Denmark. Iceland declared independence from Denmark in 1944. In 1958 the young nation declared expansion of its fishing limits from 4 nm to 12 nm. This expansion and the ones following, to 50 nm and 200 nm, caused a strife with the British government called the cod wars. In 2007 fish and fish products were about 40% of the country's export.1
Resources:
1. Exports by commodities (SI classification) 2002-2007. Statistics Iceland, 2008. http://www.statice.is |
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Sæmark Seafood Ltd.