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Financial News: Norway Trade Surplus Decrease In October

Norway Trade Surplus Decrease In October

11/15/2022 - 10:38:00 (RTTNews)

(RTTNews) - Norway's trade surplus decreased in October compared to the previous year as imports increased faster than exports, data from Statistics Norway showed on Tuesday.

The trade surplus fell to NOK 82.005 billion in October from NOK 84.357 billion in the same month last year. In September, the surplus was NOK 122.180 billion.

Exports rose 10.2 percent annually in October and imports grew 25.2 percent.

Export growth was mainly driven by a 145.5 percent surge in ship and oil platforms, and 42.3 percent gain in shipments of crude oil.

Mainland exports grew 15.4 percent annually in October.

On a monthly basis, exports declined 20.5 percent and imports fell 4.8 percent in October.

The mainland trade logged a deficit of NOK 32.2 billion in October.

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