Iceland’s trade deficit narrowed to ISK 37.9 billion in March 2026 from ISK 42.2 billion in the corresponding month of the previous year.
Exports advanced by 22% year-on-year to ISK 93.1 billion, driven by higher shipments of farmed fish (+103%), marine products (+53%), and agricultural products (+12%).
However, exports declined for manufactured goods (-3%) and other products (-30%).
Meanwhile, imports rose 11% to ISK 131 billion, supported by increased purchases of capital goods (+65%), food and beverages (+29%), fuels and lubricants (+8%), and consumer goods (+6%).
Over the past twelve months, Iceland’s trade deficit stood at ISK 421.3 billion.