Iceland’s trade deficit widened to ISK 44.2 billion in July 2025 from ISK 34.1 billion in the same month last year. Exports declined by 11.8% year-on-year to ISK 72.4 billion, mainly due to reduced shipments of manufactured products (-18%) and marine products (-3.9%). Conversely, exports of agricultural products jumped nearly 94%. Meanwhile, imports rose by 0.3% to ISK 116.6 billion, as higher purchases of capital goods, except transportation (+27.4%) were offset by decreases in those of transport equipment (-15.7%); fuels & lubricants (-13.9%) and industrial supplies (-5.2%).