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Exports decreased by ISK 113 billion

Business

Exports decreased by ISK 113.5 billion

Image: indiaspend

Exports of goods and services declined by over a third since last year, which is stated in the EVA Landsbanki. In the second quarter of the year, exports amounted to ISK 215.6 billion, compared to ISK 329 billion last year, so a decrease of ISK 113.5 billion.

Imports of goods and services amounted to ISK 221 billion. in the second quarter compared to 320.2 b.kr. during the same period, last year, and thus became 99.3 b.kr. contraction during the year, or by 31%. In light of this, the trade deficit in goods and services amounted to ISK 5.4 billion. but at the same time last year, the surplus was 8.8 b.kr.

Hagsjánn says, however, that this is a defensive victory, despite the fact that exports have contracted between years due to the epidemic, as the simultaneous contraction in imports has significantly reduced the negative effects of the epidemic on foreign trade during the quarter.

 

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