Iceland Trade Gap Narrows In November

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

The trade gap narrowed to ISK 31.4 billion in November from ISK 37.6 billion in the corresponding month last year. In October, the deficit was ISK 24.1 billion.

The value of exported goods dropped 12.0 percent annually in November, and imports plunged by 14.0 percent.

Exports of transport equipment were 17.0 percent lower compared to last year, while inflows of capital goods, except transport, plunged by 46.0 percent.