The value of exported goods from Iceland amounted to 74.2 billion ISK fob in December 2025 and the value of imported goods 115 billion ISK cif (109.1 billion ISK fob) according to preliminary figures. Thus, there was a trade deficit, calculated on fob/cif value, of 40.8 billion ISK as compared with a trade deficit of 45.9 billion ISK in December 2024 at current rates of exchange.
The trade balance in December 2025 was therefore 5.2 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 483.6 billion ISK or 59.1 billion ISK less favourable than during the previous 12 months.
Value of exported goods decreased by 1% for the last 12 months
The value of exported goods in December 2025 was 10.3 billion ISK, 12%, lower than in December 2023, decreasing from 84.6 billion ISK to 74.2 billion ISK.
For the last 12 months, the total value of exported goods was 922.2 billion ISK or 9.9 billion ISK lower (1%) than during the previous 12 months at current rates of exchange. Manufacturing products contributed 52% of the total exports, their value decreasing by 2% compared with the previous 12 months. Marine products contributed 39% of total exported goods and their value increased by 3% compared with the previous 12 months.
Value of imports increased by 4% for the last 12 months
The value of imports of goods was 115 billion ISK in December 2025 compared with 130,5 billion ISK in December 2024. The decrease was thus 15.5 billion ISK from December 2024 (12%).
For the last 12 months, the total value of imports of goods was 1,405.9 billion ISK, increased by 49.2 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 fuels and lubricants and industrial supplies. On the other hand, there was an increase in the value of most other categories, mostly in capital goods (except for transport).
The average value of the exchange rate index for the 12 months period was 186.8, stronger by 4.3% from the previous 12 months the year before. The exchange rate became stronger by 0,9% in December 2025 (189.3) compared with December 2024 (191.1).
Figures for December are preliminary and the results could change after review at the end of the month.
Tables for trade in goods in November 2025 have been updated.