FX.co ★ Iceland Trade Deficit Narrows in March

Iceland’s trade deficit narrowed to ISK 37.9 billion in March 2026, down from ISK 42.2 billion in the same month a year earlier. Exports rose 22% year-on-year to ISK 93.1 billion, driven primarily by a surge in shipments of farmed fish (+103%), marine products (+53%), and agricultural products (+12%). These gains were partly offset by declines in exports of manufactured goods (-3%) and other products (-30%). On the import side, total purchases increased 11% to ISK 131 billion, boosted by higher imports of capital goods (+65%), food and beverages (+29%), fuels and lubricants (+8%), and consumer goods (+6%). Over the previous twelve months, Iceland’s cumulative trade deficit amounted to ISK 421.3 billion.