FX.co ★ Iceland Trade Gap Smallest in 13 Months

In October 2025, Iceland's trade deficit reduced to ISK 24.2 billion compared to ISK 46.5 billion in the same month the previous year. This was the smallest deficit recorded since September 2024, largely due to a more significant decline in exports than imports. On a year-over-year basis, exports decreased by 2% to ISK 85.3 billion, primarily because of reduced shipments of fresh fish, which fell by 15.2%, agricultural products by 8.3%, and salted and/or dried fish by 5.7%. Conversely, imports saw a reduction of 18%, amounting to ISK 109.5 billion, driven by lower acquisitions of transport equipment (down by 54.5%), industrial supplies (down by 26.4%), and capital goods (down by 6%).