 In the 1990s, Flateyri prospered as a fishing village, but after the 2008–2011 financial crisis hit its main fishing companies shut down, and many people left.A German fishing company has set up base in Flateyri and is currently fishing in and just out of Önundarfjörður.The Esso gas station in Flateyri was the subject of a Belgian documentary in a series about gas stations around the world.