Iceland Trade Deficit Narrows In June

(RTTNews) - Iceland's foreign trade deficit decreased in June from a year ago, figures from Statistics Iceland showed on Monday.

The trade gap dropped to ISK 41.7 billion in June from ISK 43.2 billion in the corresponding month last year. In May, the deficit was ISK 63.1 billion.

The value of exports fell 10.0 percent annually in June, and imports also declined by 7.0 percent. Imports of transport equipment fell the most, by 29.0 percent, while shipments of manufacturing products plunged by 10.0 percent.

For the last 12 months, the deficit in the balance of trade in goods was ISK 477.7 billion, or ISK 99.5 billion less favorable than during the previous 12 months, the agency said.