FX.co ★ Iceland Trade Gap Largest in 4 Months

In September 2025, Iceland recorded a trade deficit of ISK 45.5 billion, a notable increase from the ISK 22.7 billion deficit observed in the same month the previous year, marking the largest trade shortfall since May. This widening of the deficit was principally due to a decrease in exports, alongside a rise in imports. Compared to the previous year, exports fell by 12%, coming in at ISK 77.1 billion. This decline was largely attributed to reduced shipments in several sectors: agricultural products fell by 36%, manufacturing by 22%, farmed fish by 19%, and other products by a significant 53%. Conversely, imports went up by 11%, reaching ISK 122.6 billion, driven by increased purchases in capital goods, which surged by 53%, transport equipment by 26%, and food and beverages by 25%.