The value of exported goods from Iceland amounted to 67.1 billion ISK fob in August 2025 and the value of imported goods 100.9 billion ISK cif (95.7 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit in August, calculated on fob/cif value, of 33.8 billion ISK as compared with a trade deficit of 35.3 billion ISK in August 2024 at current rates of exchange.
The trade balance in August 2025 was therefore 1,5 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 481,8 billion ISK or 122.7 billion ISK less favourable than during the previous 12 months.
Value of exported goods increased by 3% for the last 12 months
The value of exported goods in August 2025 was 3.6 billion ISK, 5% lower than in August 2024, decreasing from 70.7 billion ISK to 67.1 billion ISK.
For the last 12 months, the total value of exported goods 967.4 billion ISK or 25.1 billion ISK higher (3%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 54% of the total exports, their value increased by 5% compared with the previous 12 months. Marine products contributed 37% of total exported goods and their value increased by 1% compared with the previous 12 months.
Value of imports increased by 11% for the last 12 months
The value of imports of goods was 100,9 billion ISK in August 2025 compared with 106 billion ISK in August 2024, decreased by 5.1 billion or 5%.
For the last 12 months, the total value of imports of goods was 1,449.1 billion ISK, increased by 147.8 billion ISK (11%) compared with the previous 12 months at current rates of exchange. There was a decrease in the value of fuels and lubricants and transport equipment. The most increase was in capital goods, which increased by 44%. 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 189.7, strengthened by 2.8% (195.2) from the previous 12 months the year before. The exchange rate became stronger by 7.4% in August 2025 (183.0) compared with August 2024 (197.6).
Figures for August are preliminary and the results could change after review at the end of the month.