The value of exported goods from Iceland amounted to 87.5 billion ISK fob in September 2026 and the value of imported goods to 133.2 billion ISK cif (127.1 billion ISK fob), according to preliminary figures. Thus, there was a trade deficit, calculated on a fob/cif basis, of 45.7 billion ISK. In comparison, the trade deficit was 44.9 billion ISK in September 2025 at current rates of exchange.
The trade balance in September 2026 was therefore 0.8 billion ISK less favourable than during the same period last year. For the last 12 months, the deficit in the balance of trade in goods was 470.7 billion ISK, or 50.7 billion ISK more favourable than during the previous 12 months.
Value of exported goods increased by 22.1 billion ISK over the last 12 months
The value of exported goods in September 2026 was 10.1 billion ISK (13%) higher than in September 2025, increasing from 77.4 billion ISK to 87.5 billion ISK, mainly due to increased exports of manufacturing goods, in particular aluminium.
For the last 12 months, the total value of exported goods was 964.9 billion ISK, or 22.1 billion ISK higher than during the previous 12 months or 2% at current rates of exchange. Manufacturing products accounted for 51% of total exports and their value decreased by 1% compared with the previous 12 months. Marine products accounted for 39% of total exports and their value increased by 5% compared with the previous 12 months.
Value of imported goods decreased by 2% over the last 12 months
The value of imports of goods amounted to 133.2 billion ISK in September 2026 compared with 122.3 billion ISK in September 2025, an increase of 10.9 billion ISK, or 9%. The increase was mainly due to higher imports of fuels and lubricants and capital goods.
For the last 12 months, the total value of imports of goods was 1,435.6 billion ISK, a decrease of 28.6 billion ISK, or 2%, compared with the previous 12 months at current rates of exchange. The largest decreases were in imports of industrial supplies and capital goods. The largest increases were in imports of fuels and lubricants.
The average value of the exchange rate index over the last 12 months was 185.4, with the exchange rate 1.6% stronger than during the previous 12-month period. The exchange rate was 1.2% stronger in September 2026 (180.5) compared with September 2025 (182.7).
This press release includes preliminary data for September 2026, which may be subject to revision.