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Iceland’s trade deficit narrowed to ISK 33.1 billion in August 2024, from ISK 44.4 billion in the corresponding month of the previous year. This was the smallest trade gap since May, as exports increased while imports dropped. Year-on-year, exports rose by 2% to ISK 70.9 billion, driven by higher sales of manufacturing products (6%) and farmed fish (65%). Meanwhile, imports fell by 9% to ISK 104 billion, primarily due to lower purchases of capital goods (-14%) and transport equipment (-63%).