Iceland Balance of Trade

Last Release

Nov 30, 2025

Actual

-31,391.7

Units In

ISK Million

-24,064.7

Frequency

Monthly

Next Release

Jan 08, 2026

Time to Release

29 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
21,093 Dec 2008	-63,394.6 May 2025	-4,267.05 ISK Million	1960-2025	Statistics Iceland

In 2017, Iceland's trade deficit widened sharply by 65 percent from the previous year to ISK 178 billion. Imports jumped 8 percent mainly boosted by higher purchases of industrial supplies, ships and transport equipment, while exports fell 4 percent due to a steep decline in marine products sales. The largest trade deficits were recorded with China, Norway, Germany, Denmark and Sweden; while the biggest trade surpluses were recorded with the Netherlands, Spain and France.

Latest Updates

Iceland’s trade deficit narrowed to ISK 31.4 billion in November 2025 from ISK 37.6 billion in the corresponding month of the previous year, as both exports and imports contracted. Exports fell 12.5% year-on-year to ISK 71.1 billion, weighed down by lower shipments of marine products (-0.8%), farmed fish (-16.9%) and manufactured goods (-17.5%). Imports also declined 13.8% to ISK 102.5 billion, with sharp drops in fuel and lubricants (-38.4%) and capital goods (-46.3%).