The value of exported services in the second quarter of 2026 is estimated at 262.7 billion ISK while the value of imported services is estimated at 196 billion ISK. Therefore, the surplus in the balance of trade in services is estimated at 66.6 billion ISK compared with a surplus of 61.9 billion ISK for the same period the year before. For the period July 2025 to June 2026, the surplus of balance of trade in services is estimated at 301.9 billion ISK compared with a surplus of 265.7 billion ISK in the 12 months prior.
Value of exports of services increased by 2% in the second quarter
The total value of exports of services in the second quarter of 2026 increased by 4.7 billion ISK, or 2%, from the same period the year before, at current rates of exchange. The total exported value of travel in the second quarter of 2026 decreased just under 1 billion ISK compared with the second quarter of 2025, or by 1%. Exported value of transport services also decreased, by 7% or by 5.2 billion, compared with the second quarter of 2025. Value of exported telecommunications, computer, and information services, however, continues to grow rapidly, with exports of these services increasing by 14.1 billion ISK, or 70%, compared with the second quarter of 2025. This growth can largely be attributed to increased activity by companies connected to data centre operations.
For the period July 2025 to June 2026, the total value of exports of services was 1,064.4 billion ISK and increased by 5% compared with the 12 months prior at current rates of exchange. Increase in exported value of travel in the same period was 2%, compared with the 12 months prior. However, there was a decrease in the exported value of transport services by 5%. The largest share of the growth in exported value of services during the period in question can, however, be attributed to the strong growth in the as before mentioned telecommunications, computer, and information services, which exported value increased by 51.4 billion ISK compared with the 12 months prior.
Value of imports of services remained the same in the second quarter
The total value of imports of services in the second quarter of 2026 remained almost the same, from the same period the year before, at current rates of exchange. The value of imported travel increased by 4%, compared with the second quarter of 2025. The imports of other business services, however, decreased considerably, by 29%, while the imported value of transportation services increased by 9%.
For the period July 2025 to June 2026, the total value of imports of services was 762.5 billion ISK and increased by 2%, compared with the 12 months prior at current rates of exchange. The imported value of travel increased by 6% for the period in question. The imported value of other business services decreased by 16% and the imported value of transportation increased by 2%.
Deficit in balance of trade in goods and services 87.8 billion in the second quarter
The value of exported goods in BOP in the second quarter of 2026 is estimated at 247.3 billion ISK and the value of imported goods 401.8 billion ISK. Hence, a deficit in the balance of trade in goods in BOP is estimated at 154.4 billion ISK.
The total export of trade in goods and services is therefore estimated at 510 billion ISK in the second quarter of 2026 compared with 499.8 billion ISK in the same period the year before. Import of trade in goods and services is estimated at 597.8 billion ISK in the second quarter of 2026 compared with 566 billion ISK in the same period in the previous year. The deficit of trade in goods and services is therefore estimated at 87.8 billion ISK in the second quarter of 2026 compared with a deficit of 66.2 billion ISK in the second quarter the year before.
For the period July 2025 to June 2026, the deficit in the balance of trade in goods and services is estimated at 50.7 billion ISK compared with a deficit of 119.7 billion ISK in the 12 months prior.
Monthly trade in goods and services
Parallel to this publication, Statistics Iceland updates data for monthly trade in goods and services for the second quarter of 2026. In June 2026, total exports of trade in goods and services are estimated at 202.4 billion ISK and total imports of trade in goods and services is estimated at 217.1 billion ISK. The deficit of balance of trade in goods and services is therefore estimated at 14.8 billion ISK in June 2026.
Statistics
Trade in goods and services
Trade in services