The value of exported goods from Iceland amounted to 78 billion ISK fob in February 2026 and the value of imported goods 88 billion ISK cif (82.9 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit, calculated on fob/cif value, of 9.9 billion ISK as compared with a trade deficit of 59.5 billion ISK in February 2025 at current rates of exchange.
The trade balance in February 2026 was therefore 49.5 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 425.9 billion ISK or 22.2 billion ISK less 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 February 2026 was 1.7 billion ISK, 2%, higher than in February 2025, increasing from 76.3 billion ISK to 78 billion ISK.
For the last 12 months, the total value of exported goods was 905.3 billion ISK or 39.7 billion ISK lower (4%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 51% of the total exports, their value decreasing by 9% compared with the previous 12 months. Marine products contributed 40% of total exported goods and their value increased by 5% compared with the previous 12 months.
Value of imported goods decreased by 4% for the last 12 months
The value of imports of goods was 88 billion ISK in February 2026 compared with 135.7 billion ISK in February 2025. The decrease was thus 47.8 billion ISK (35%). The majority of this decease, 42 billion, results from decreased imports of investments goods.
For the last 12 months, the total value of imports of goods was 1,331.3 billion ISK, decreased by 61.9 billion ISK (4%) compared with the previous 12 months at current rates of exchange. For larger categories, there was a decrease in the value of imported capital goods, fuels and lubricants and industrial supplies, but where there was an increase in the value of imports the increase was minor in comparison with the items decreasing, with the exemption of consumer goods.
The average value of the exchange rate index for the 12 months period was 185.9, stronger by 4.5% from the previous 12 months the year before. The exchange rate became stronger by 3.8% in February 2026 (185.7) compared with February 2025 (193.1).
This press release includes preliminary data of February 2026 which might change.