Iceland's foreign trade deficit decreased in May from a year ago, preliminary figures from Statistics Iceland showed on Monday.
The trade gap narrowed to ISK 56.6 billion in May from ISK 63.1 billion in the corresponding month last year. In April, the shortfall was ISK 65.8 billion.
Both exports and imports plunged by 11.0 percent on an annual basis in May. There was a 15.0 percent sharp decline in the outflows of industrial goods, which constitutes 48 percent of overall merchandise exports.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.