FX.co ★ Iceland Trade Gap Widens in April

In April 2025, Iceland witnessed an expansion in its trade deficit, which reached ISK 53.4 billion, up from ISK 46.7 billion in April of the previous year. This increase is attributed to a 13% rise in imports, amounting to ISK 135.7 billion. The growth in imports was notably fueled by a significant rise in capital goods purchases (+46%), as well as increases in industrial supplies (+19%) and food and beverages (+13%). Concurrently, exports also saw a 13% uptick compared to the same period last year, totaling ISK 82.3 billion. This growth in exports was primarily supported by heightened supplies of marine products (+23%) and manufactured goods (+8%). Over the past twelve months, Iceland's trade deficit has expanded to ISK 437.2 billion, up from ISK 397.5 billion in the preceding period.