Hitt og þetta 28. apríl 2006

(IFN) Iceland trade deficit doubles to ISK31.9bln

Reykajvik (IFN) Iceland's foreign trade deficit widened to ISK31.9 billion in the first quarter of this year, double the shortfall of ISK15.3 billion in the year-earlier period, Statistics Iceland said Friday.

The trade deficit for March expanded to ISK13.4 billion from ISK6.3 billion a year earlier.
Kaupthing bank economists called the March deficit a monthly record.

Statistics Iceland said imports in the first quarter rose 31.1% to ISK80.7 billion, set against a 5.4% rise in exports to ISK48.7 billion.

Much of the rise in imports was traced to incoming industrial supplies, which rose 50% to ISK21.1 billion.

Icelandic economists have traced much of the trade and current account deficits to foreign materials and

Icelandic Financial News (IFN) is available on Factiva, a joint venture between Reuters and Dow Jones Newswires, FT.COM, LexisNexis, Comtex, Gale and Thomson via the Nordic Business Report.