Iceland Trade Deficit Narrows In August

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

The trade gap dropped to ISK 33.6 billion in August from ISK 35.2 billion in the corresponding month last year. In July, the deficit was ISK 44.0 billion.

The value of exported goods amounted to ISK 67.1 billion in August, and the value of imported goods was ISK 100.7 billion.

Separate official data showed that the unemployment rate in the country rose to a 6-month high of 5.3 percent in August from 3.2 percent in July. A year ago, it was 2.4 percent.

The number of unemployed persons increased to 12,800 in August from 7,800 in the preceding month.

Meanwhile, the employment rate dropped to 78.6 percent from 80.3 percent in July.

Another piece of official data revealed that overnight stays at hotels in Iceland in August were roughly 667,000, or approximately 9.6 percent more compared to the corresponding month of 2024. Foreign overnight stays in hotels grew 12.1 percent, while domestic stays declined by 13.6 percent annually.