Iceland Trade Deficit Narrows in March 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.