Iceland’s foreign trade deficit decreased in January from a year ago as imports fell faster than exports, preliminary figures from Statistics Iceland showed on Friday.
The trade gap narrowed to ISK 0.3 billion in January from ISK 7.7 billion in the corresponding month last year. In November, the deficit was ISK 40.4 billion.
Both the value of exports and imports plunged by 21.0 percent and 27.0 percent, respectively, from last year.
Exports of manufacturing products slumped 37.0 percent, and imports of fuel and lubricants tumbled by 41.0 percent.
For comments and feedback contact: editorial@rttnews.com
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
