Iceland Trade Gap Widens In December

(RTTNews) - Iceland's foreign trade deficit increased in December from a year ago as imports grew much faster than exports, figures from Statistics Iceland showed on Wednesday.

The trade gap widened to ISK 46.7 billion in December from ISK 28.1 billion in the corresponding month last year.

The value of exports rose 19.0 percent annually in December, and imports surged 32.0 percent.

For the last 12 months, the deficit in the balance of trade in goods was ISK 397.6 billion, or ISK 29.3 billion less favorable than during the previous 12 months, the agency said.