Importance of Fisheries and Related Industries for Iceland's Economy Before and After Possible EU Accession

This bachelor's thesis examines the economic significance of fisheries and related industries for Iceland, both in the current context and with regard to the potential impacts of the country's possible accession to the European Union. The thesis first defines key economic terms and introduces the EU's Common Fisheries Policy and Iceland's system of Individual Transferable Quotas (ITQs). The practical part analyzes Iceland's macroeconomic data for the period 2000-2029 (including forecasts) with a focus on GDP, employment, and exports, with the analysis subsequently focusing in detail on the contribution of fisheries and related industries to these indicators. The analysis shows that although the Icelandic economy has diversified and the importance of other sectors (tourism, energy) is growing, fisheries and fish processing still constitute a significant part of GVA (approx. 7.1% in 2022) and exports (over 30%). Findings from the thesis suggest that net exports play a significant and often volatile role in the Icelandic economy, with significantly higher fluctuations in their contribution to GDP growth compared to EU countries. The Icelandic labor market is characterized by a high proportion of foreign workers and structural mismatches. The final discussion summarizes the main arguments for and against Iceland's accession to the EU, primarily from the perspective of the fisheries sector (including the impacts of adopting the CFP and changes in customs policy) and overall economic stability.