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Financial News: Norway Trade Balance Swings To Deficit In August

Norway Trade Balance Swings To Deficit In August

09/15/2020 - 05:40:00 (RTTNews)

(RTTNews) - Norway's trade balance swung to a deficit in August, as exports declined and imports remained unchanged, data from Statistics Norway showed on Tuesday.

The trade balance registered a deficit of NOK 2.865 billion in August versus a surplus of NOK 5.652 billion in the same month last year. In July, the trade deficit was NOK 2.131 billion.

Exports declined 13.0 percent year-on-year in August, but decreased 2.3 percent from a month ago.

Imports remained unchanged annually in July and fell 1.0 percent from the previous month.

The mainland trade deficit decreased to NOK 25.955 billion in August from NOK 27.298 billion in the previous month. In the same month last year, the trade deficit was NOK 21.981 billion.

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