The value of exported goods from Iceland amounted to 93.1 billion ISK fob in March 2026 and the value of imported goods 131 billion ISK cif (125.1 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit, calculated on fob/cif value, of 37.9 billion ISK as compared with a trade deficit of 42.2 billion ISK in March 2025 at current rates of exchange. The trade balance in March 2026 was therefore 4.3 billion ISK more favourable than during the same period last year. For the last 12 months the deficit in balance of trade in goods was 421.3 billion ISK or 38.2 billion ISK more favourable than during the previous 12 months.
Value of exported goods decreased by 4% for the last 12 months
The value of exported goods in March 2026 was 17 billion ISK, 22%, higher than in March 2025, increasing from 76.1 billion ISK to 93.1 billion ISK, mainly due to increased exports of marine products.
For the last 12 months, the total value of exported goods was 922.3 billion ISK or 36.1 billion ISK lower (4%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 49% of the total exports, their value decreasing by 11% compared with the previous 12 months. Marine products contributed 41% of total exported goods and their value increased by 8% compared with the previous 12 months.
Value of imported goods decreased by 5% for the last 12 months
The value of imports of goods was 131 billion ISK in March 2026 compared with 118.3 billion ISK in March 2025. The increase was thus 12.7 billion ISK (11%). Mainly the increase was due to the imports of investments goods, but it was partly offset by decrease in the imports of industrial supplies.
For the last 12 months, the total value of imports of goods was 1,343.6 billion ISK, decreased by 74.4 billion ISK (5%) compared with the previous 12 months at current rates of exchange. For larger categories, there was a decrease in the value of industrial supplies, fuels and lubricants, capital goods and transport equipments but where there was an increase in the import of food and beverages and other consumer goods.
The average value of the exchange rate index for the 12 months period was 185.5, stronger by 4.5% from the previous 12 months the year before. The exchange rate became stronger by 2.1% in March 2026 (186.0) compared with March 2025 (190.0).
This press release includes preliminary data of March 2026 which might change.