Iceland Trade Deficit Widens In September

(RTTNews) - Iceland's foreign trade deficit increased markedly in September from a year ago as exports fell faster than imports, preliminary figures from Statistics Iceland showed on Tuesday.

The trade gap rose to ISK 45.5 billion in September from ISK 22.7 billion in the corresponding month last year. In July, the deficit was ISK 44.0 billion.

The value of exported goods plunged 12.0 percent annually in September, and imports declined by 11.0 percent. Exports of agricultural products alone showed a sharp contraction of 36.0 percent.

For the last 12 months, the deficit in the balance of trade in goods was ISK 504.7 billion, or ISK 136.6 billion less favorable than during the previous 12 months, the agency said.