Iceland's balance of trade turns to deficit last year

Iceland saw its balance of trade amount to a deficit of 21.3 billion Icelandic krona (163.9 million U.S. dollars) in the first 11 months of 2015, down from a surplus of 503 million Icelandic krona in the same period of 2014, Statistics Iceland said Wednesday.

Figures show the value of exported goods amounted to about 578.4 billion krona in the first 11 months of 2015, 6.8 percent higher than that in the same period of the previous year, at current rates of exchange.

Exported manufacturing products contributed to 53.1 percent of total exported goods, while marine products contributed 42.4 percent.

The value of imported goods amounted to about 599.8 billion krona in the first 11 months of 2015, 10.9 percent higher than that in the same period of the previous year, mainly due to the increase of imports of industrial supplies and aircraft. However, the imports of fuels decreased. (1 U.S. dollar = 130 Icelandic krona) Endit