Iceland Trade Gap Narrows In October

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

The trade gap narrowed to ISK 24.2 billion in September from ISK 46.5 billion in the corresponding month last year. In August, the deficit was ISK 45.4 billion.

The value of exported goods dropped 2.0 percent annually in September, while imports plunged by 18.0 percent.

Imports of transport equipment alone showed a sharp contraction of 54.0 percent, while outflows of manufacturing products grew by 13.0 percent.