The value of exported goods from Iceland amounted to 85.3 billion ISK fob in October 2025 and the value of imported goods 109.5 billion ISK cif (104 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit in October, calculated on fob/cif value, of 24.2 billion ISK as compared with a trade deficit of 46.5 billion ISK in October 2024 at current rates of exchange.
The trade balance in October 2025 was therefore 22.3 billion ISK mores favourable than during the same period last year. For the last 12 months the deficit in balance of trade in goods was 482.1 billion ISK or 114.8 billion ISK less favourable than during the previous 12 months.
Value of exported goods was almost unchanged the last 12 months
The value of exported goods in October 2025 was 1,9 billion ISK (2%) lower than in October 2024, decreasing from 87.2 billion ISK to 85,3 billion ISK.
For the last 12 months, the total value of exported goods was 954.8 billion ISK or 4 billion ISK higher (0%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 54% of the total exports, their value increased by 2% compared with the previous 12 months. Marine products contributed 37% of total exported goods and their value increased by 3% compared with the previous 12 months.
Value of imports increased by 9% for the last 12 months
The value of imports of goods was 109.5 billion ISK in October 2025 compared with 133.7 billion ISK in October 2024, decreased by 24.1 billion or 18%.
For the last 12 months, the total value of imports of goods was 1,436.9 billion ISK, increased by 118.7 billion ISK (9%) compared with the previous 12 months at current rates of exchange. There was a decrease in the value of fuels and lubricants and transport equipments but an increase in other items of the import, the most in capital goods, which increased by 47%, or 152.1 billion ISK. 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 187.3, strengthened by 4.5% (196.1) from the previous 12 months the year before. The exchange rate became stronger by 6.5% in October 2025 (182.1) compared with October 2024 (194.7).
Figures for October are preliminary, and the results could change after review at the end of the month.