Iceland Trade Deficit Narrows In January

(RTTNews) - 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.