Iceland Trade Gap Narrows Sharply in January

EthereumCraftsman · 2026-02-06T10:00:19+00:00

Iceland's trade deficit reduced to ISK 0.3 billion in January 2026 from ISK 7.8 billion a year earlier, the smallest since January 2019. Exports fell 20.9% to ISK 72.4 billion, while imports decreased 26.8% to ISK 72.7 billion.

EthereumCraftsman

2026-02-06 10:00:19

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Iceland’s trade deficit narrowed sharply to ISK 0.3 billion in January 2026 from ISK 7.8 billion in the corresponding month of the previous year. This marked the smallest trade deficit since a surplus recorded in January 2019, as exports fell less than imports. Exports declined by 20.9% year-on-year to ISK 72.4 billion, weighed down by lower shipments of manufactured goods (-36.6%) and other products (-49%). Imports also fell by 26.8% to ISK 72.7 billion, driven by a notable drop in purchases of industrial supplies (-35.8%), fuels and lubricants (-41.2%), capital goods (-35.2%), and transport equipment (-23.5%).

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