Iceland Balance of Trade

Last Release

Aug 31, 2025

Actual

-33,782.1

Units In

ISK Million

-44,025.7

Frequency

Monthly

Next Release

Oct 07, 2025

Time to Release

27 Days 9 Hours

Highest	Lowest	Average	Date Range	Source
21,093 Dec 2008	-63,394.6 May 2025	-4,155.51 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 recorded a trade deficit of ISK 33.8 billion in August 2025, narrowing from ISK 35.2 billion in the same month of the previous year. This marked the smallest trade deficit since January, with exports dropping by 5.1% year-on-year to ISK 67.1 billion, mainly due to reduced shipments of farmed fish (-25.1%), manufacturing products (-16.3%), and agricultural products (-1.6%). Meanwhile, imports fell by 4.8% to ISK 100.9 billion, with lower purchases of fuels and lubricants (-30.9%), transport equipment (-22.8%), and industrial supplies (-7.5%), while increased inbound shipments of capital goods (33.5%).