The value of exported goods from Iceland amounted to 82.3 billion ISK fob in April 2025 and the value of imported goods 135.7 billion ISK cif (129.4 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit in April, calculated on fob/cif value, of 53.4 billion ISK as compared with a trade deficit of 46.8 billion ISK in April 2024 at current rates of exchange.
The trade balance in April 2025 was therefore 6.7 billion ISK less favourable than during the same period last year. For the last 12 months the deficit in balance of trade in goods was 437.2 billion ISK or 39.7 billion ISK less favourable than during the previous 12 months.
Value of exported goods increased by 8% for the last 12 months
The value of exported goods in April 2025 was 9.4 billion ISK, 13% higher than in April 2024, increasing from 72.9 billion ISK to 82.3 billion ISK.
For the last 12 months, the total value of exported goods was 997.1 billion ISK or 78.0 billion ISK higher (8%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 55% of the total exports, their value increasing by 12% compared with the previous 12 months. Marine products contributed 36% of total exported goods and their value increased by 3% compared with the previous 12 months.
Value of imports increased by 9% for the last 12 months
The value of imports of goods was 135.7 billion ISK in April 2025 compared with 119.6 billion ISK in April 2024. The increase was thus 16.1 billion ISK (13%).
For the last 12 months, the total value of imports of goods was 1,434.3 billion ISK, increased by 117.6 billion ISK (9%) compared with the previous 12 months at current rates of exchange. For larger categories, there was a decrease in the value of fuels and lubricants and transport equipments. On the other hand, there was an increase in the value of most other categories, the highest in capital goods (except for transport) and industrial supplies n.e.s.
The large growth in capital goods can mostly be attributed to the large-scale imports of computer products by companies that run data centers in the country.
The average value of the exchange rate index for the 12 months period was 193.5, strengthened by 0.3% (194.1) from the previous 12 months the year before. The exchange rate became stronger by 4.8% in April 2025 (187.3) compared with April 2024 (196.7).
Figures for April are preliminary and the results could change after review at the end of the month.