Norway Trade Surplus Grows Sharply In August

norway-trade-surplus-grows-sharply-in-august

By RTTNews Staff Writer   ✉   | Published:

Norway’s trade surplus expanded notably in August from a year ago as exports grew more rapidly than imports, data from Statistics Norway showed on Thursday.

The trade surplus rose to NOK 197.7 billion in August from NOK 44.01 billion in the same month last year. In June, the surplus was NOK 153.3 billion.

Exports surged 143.6 percent annually in August, and imports registered an increase of 21.6 percent.

Export growth was mainly driven by a 359.4 percent jump in shipments of natural gas and 32.8 percent gain in outflows of crude oil.

Mainland exports climbed 46.5 percent year-over-year in August.

On a monthly basis, both exports and imports rose by 25.8 percent and 19.4 percent, respectively, in August.

The mainland trade balance resulted in a deficit of NOK 25.1 billion in August.

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