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Financial News: Norway Trade Surplus Grows In May

Norway Trade Surplus Grows In May

06/15/2018 - 02:58:00 (RTTNews)

(RTTNews) - Norway's foreign trade surplus increased notably in May from a year ago, as exports grew much faster than imports, preliminary figures from Statistics Norway showed Friday.

The trade surplus climbed to NOK 16.3 billion in May from NOK 9.1 billion in the corresponding month last year.

However, the surplus shrank from NOK 18.7 billion in April.

Exports logged a double-digit growth of 15.9 percent year-on-year in May and imports rose by 6.3 percent.

On a monthly basis, exports dropped 2.0 percent, while imports climbed by 1.1 percent.

At the same time, the mainland trade deficit widened to NOK 26.3 billion in May from NOK 24.1 billion in the same month of 2017.

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