FX.co ★ Iceland Trade Deficit Narrows in November

In November 2025, Iceland experienced a reduction in its trade deficit, which decreased to ISK 31.4 billion from ISK 37.6 billion in the same month the previous year. This change came as both exports and imports saw declines. Exports decreased by 12.5% year-on-year to ISK 71.1 billion, primarily due to reduced shipments in marine products (-0.8%), farmed fish (-16.9%), and manufactured goods (-17.5%). Similarly, imports fell by 13.8% to ISK 102.5 billion, driven by significant reductions in fuel and lubricants (-38.4%) and capital goods (-46.3%).