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Iceland Trade Surplus Rises In February

Iceland's merchandise trade surplus increased from last year in February, data released by Statistics Iceland showed Friday.

The trade surplus increased to ISK12.64 billion in February from ISK8.81 billion in the same month last year.

Export of goods rose to ISK54.19 billion from ISK44.49 billion in February 2011. Imports increased to ISK41.55 billion during the month from ISK35.68 billion a year earlier.

In the two months ended February, the trade surplus increased to ISK22.76 billion from ISK16.90 billion in the corresponding period last year. Export of goods increased 14.7 percent year-on-year, while imports advanced 10 percent.

Separately, the statistical office provided its forecast for Iceland' economic growth. The economy is expected to grow 2.6 percent this year and by 2.5 percent in 2013. Private consumption and investment are seen growing further, while public consumption is forecast to remain nearly constant for the years 2012 through 2014m and grow slowly from 2015, the agency said.

by RTTNews Staff Writer

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