In June 2025, Iceland's trade deficit decreased to ISK 41.7 billion, compared to ISK 43.2 billion in the same period the previous year. During this time, exports experienced a 10% decline year-over-year, amounting to ISK 68.7 billion. This was primarily due to a significant reduction in the export of manufacturing products, which fell by 10%, and other products, which saw an 86% decrease. However, there was a notable increase in the sales of agricultural products (up by 92%), farmed fish (up by 51%), and marine products (up by 10%).
On the import side, there was a less pronounced decline of 7%, bringing total imports to ISK 100.4 billion. This reduction is largely attributed to decreased purchases of transport equipment, which fell by 29%, fuels and lubricants by 16%, capital goods by 12%, and industrial supplies by 6%.
Looking at the broader picture for the first seven months of the year, Iceland’s trade deficit expanded significantly, rising to ISK 477.7 billion from ISK 378.3 billion during the same period in the previous year.
