RSS Iceland Trade Gap Widens In December

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 RSS Iceland Trade Gap Widens In December

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Iceland experienced a notable increase in its foreign trade deficit in December compared to the previous year, driven by a significantly higher growth rate in imports relative to exports, according to the latest data from Statistics Iceland released on Wednesday.

The trade deficit expanded to ISK 46.7 billion in December, up from ISK 28.1 billion in the same month the previous year. During this period, export values increased by 19.0 percent annually, whereas imports saw a sharp rise of 32.0 percent.

Over the past 12 months, the trade deficit in goods amounted to ISK 397.6 billion, marking a deterioration of ISK 29.3 billion compared to the preceding 12 months, as reported by the agency.

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