Iceland’s trade deficit widened to ISK 63.1 billion in August 2026 from ISK 33.6 billion in the same month a year earlier, marking the largest deficit in four months. Imports surged by 35% year-on-year to ISK 135.5 billion, driven largely by increased purchases of fuels and lubricants (+74%), transport equipment (+63%), industrial supplies (+31%), consumer goods (+7%), and food and beverages (+5%). Meanwhile, exports rose by 8% to ISK 72.4 billion, lifted by higher shipments of farmed fish (+52%), manufactured products (+33%), which offset declines in agricultural products (-53%), marine products (-14%), and other products (-75%). Over the last twelve months, Iceland’s trade deficit totaled ISK 470.0 billion, moderating from ISK 501.6 billion a year earlier. Exports recorded no growth at ISK 954.8 billion, while imports dropped by 2% to ISK 1,424.8 billion. source: Statistics Iceland

Iceland recorded a trade deficit of 63110.80 ISK Million in August of 2026. Balance of Trade in Iceland averaged -4571.81 ISK Million from 1960 until 2026, reaching an all time high of 21093.00 ISK Million in December of 2008 and a record low of -65795.20 ISK Million in April of 2026. This page provides the latest reported value for - Iceland Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Iceland Balance of Trade - data, historical chart, forecasts and calendar of releases - was last updated on September of 2026.

Iceland recorded a trade deficit of 63110.80 ISK Million in August of 2026. Balance of Trade in Iceland is expected to be -30800.00 ISK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Iceland Balance of Trade is projected to trend around -23500.00 ISK Million in 2027 and -33900.00 ISK Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-08-10 09:00 AM
Balance of Trade
Jul ISK-40.6B ISK-58.7B ISK-50.0B
2026-09-08 09:00 AM
Balance of Trade
Aug ISK-63.1B ISK-39.4B ISK-46.4B
2026-10-07 09:00 AM
Balance of Trade
Sep ISK-63.1B ISK -30.8B


Related Last Previous Unit Reference
Balance of Trade -63110.80 -39372.90 ISK Million Aug 2026
Capital Flows -13918.00 23066.00 ISK Million Jun 2026
Current Account -120269.00 -28821.00 ISK Million Jun 2026
Current Account to GDP -3.70 -3.20 percent of GDP Dec 2025
Exports 72413.30 86499.30 ISK Million Aug 2026
Exports by Category
Exports by Country
External Debt 3837908.00 3662137.00 ISK Million Jun 2026
Foreign Direct Investment -6217.00 62982.00 ISK Million Jun 2026
Gold Reserves 1.98 1.98 Tonnes Jun 2026
Imports 135524.10 125872.10 ISK Million Aug 2026
Imports by Category
Imports by Country
Remittances 2704.00 2736.00 ISK Million Jun 2026
Terrorism Index 0.06 0.12 Points Dec 2025
Tourist Arrivals 314180.00 292766.00 Aug 2026


Iceland Balance of Trade
Iceland's trade deficit widened to ISK 231.8 billion in 2021 from ISK 145.3 billion in 2020. The total value of exports of goods increased by 21.8% to ISK 136.2 billion. Exports of aluminum and aluminum products had the largest share in exported manufacturing products or 37.3% of total exports. Marine products contributed to 38.8% of the total exports and their value was 7.4% higher than in 2020. Fresh fish and frozen fish fillets had the largest share in marine products. The largest trading countries in the export of goods were the Netherlands, Spain and United Kingdom but 68.8% of all exports went to EEA countries. Meanwhile, imports rose at a faster 28.9% to ISK 222.8 billion. The increase was mainly in transport equipment and capital goods. The largest import categories were industrial supplies (28.8%) and capital goods (22.2%). The largest trading countries in imports of goods for the year 2021 were Norway, China and Germany. Over 58% of total value of import came from EEA countries.
Actual Previous Highest Lowest Dates Unit Frequency
-63110.80 -39372.90 21093.00 -65795.20 1960 - 2026 ISK Million Monthly
Current Prices, NSA

News Stream
Iceland Trade Gap Widens to 4-Month High
Iceland’s trade deficit widened to ISK 63.1 billion in August 2026 from ISK 33.6 billion in the same month a year earlier, marking the largest deficit in four months. Imports surged by 35% year-on-year to ISK 135.5 billion, driven largely by increased purchases of fuels and lubricants (+74%), transport equipment (+63%), industrial supplies (+31%), consumer goods (+7%), and food and beverages (+5%). Meanwhile, exports rose by 8% to ISK 72.4 billion, lifted by higher shipments of farmed fish (+52%), manufactured products (+33%), which offset declines in agricultural products (-53%), marine products (-14%), and other products (-75%). Over the last twelve months, Iceland’s trade deficit totaled ISK 470.0 billion, moderating from ISK 501.6 billion a year earlier. Exports recorded no growth at ISK 954.8 billion, while imports dropped by 2% to ISK 1,424.8 billion.
2026-09-08
Iceland Trade Deficit Narrows to 4-Month Low
Iceland posted a trade deficit of ISK 40.6 billion in July 2026, narrowing from ISK 44 billion in the corresponding month of the previous year and marking the lowest deficit since March. Exports rose 19% year-on-year to ISK 86.5 billion, lifted by higher shipments of farmed fish (+62%), manufacturing products (+34%), and agricultural products (+1%), which offset declines in marine products (-5%) and other products (-8%). Meanwhile, imports grew by 9% to ISK 127.1 billion, driven largely by higher purchases of capital goods (+29%), food and beverages (+13%), and industrial supplies (+3%), while imports of fuels and lubricants (-1%), transport equipment (-7%), and consumer goods (-1%) declined. Over the last twelve months, Iceland’s trade deficit totaled ISK 441.9 billion, moderating from ISK 504.8 billion a year earlier. Exports were flat at ISK 949.5 billion, while imports fell by 5% to ISK 1,391.4 billion.
2026-08-10
Iceland Trade Gap Widens in June
Iceland posted a trade deficit of ISK 57.4 billion in June 2026, widening from ISK 39.8 billion in the same month of the previous year. Exports climbed 42% year-on-year to an over three-year high of ISK 98.0 billion, supported by higher shipments of manufacturing products (59.4%), marine products (25.5%), and farmed fish (36.9%). Meanwhile, imports rose at a slightly faster pace, advancing 43% to a record high of ISK 155.3 billion, driven by increased purchases of capital goods (164.8%), industrial supplies n.e.s. (12.1%), fuels and lubricants (47.9%), and consumer goods n.e.s. (7.0%). Over the last twelve months, Iceland's trade deficit totaled ISK 443.9 billion. Exports declined 3%, largely reflecting an 11% drop in manufacturing goods, which accounted for 49% of total exports, while imports fell 9%, mainly due to lower purchases of industrial supplies, investment goods, fuels and lubricants, and transport equipment.
2026-07-07