Iceland’s trade deficit widened to ISK 57.9 billion in February 2025 from ISK 20.6 billion in the same month last year, as exports fell while imports surged.
Exports dropped 1% year-on-year to ISK 78.5 billion, primarily due to lower sales of marine products (-8%), agricultural goods (-25%), and other products (-57%).
Meanwhile, imports jumped 37% to ISK 136.4 billion, driven by a sharp rise in purchases of capital goods, except transport (148%) and transport equipment (44%).