Iceland Trade Gap Widens in September

Iceland’s trade deficit widened to ISK 45.7 billion in September 2026 from ISK 44.9 billion in the same month a year earlier. Imports rose by 9% year-on-year to ISK 133.2 billion, driven largely by higher purchases of fuels and lubricants (+79%), capital goods (+13%), and consumer goods (+9%), while imports declined in food and beverages (-11%), industrial supplies (-3%), and transport equipment (-13%). Meanwhile, exports increased by 13% to ISK 87.5 billion, lifted by increased shipments of farmed fish (+64%), manufacturing products (+29%), which offset the declines in marine products (-7%), agriculture products (-7%), and other products (-29%). Over the last twelve months, Iceland’s trade deficit totaled ISK 470.7 billion, narrowing from ISK 521.4 billion a year earlier. Imports fell by 2% to ISK 1,435.6 billion, while exports grew by 2% to ISK 964.9 billion.

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.

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.