Financial News: Norway Trade Surplus Grows In August

Norway Trade Surplus Grows In August

09/16/2024 - 03:20:00 (RTTNews)

(RTTNews) - Norway's foreign trade surplus increased somewhat in August from a year ago, data from Statistics Norway showed on Thursday.

The trade surplus rose to NOK 66.0 billion in August from NOK 64.4 billion in the same month last year. The surplus also grew from NOK 58.6 billion in July.

Exports climbed 6.2 percent annually in August, and imports surged by 9.4 percent. The overall growth in exports was mainly driven by higher foreign demand for ships and oil platforms. Natural gas exports were 25.9 percent higher.

On a monthly basis, both exports and imports increased by 6.2 percent and 1.9 percent, respectively.

Mainland exports remained flat compared to last year, while they increased 5.3 percent from July. The mainland trade logged a deficit of NOK 28.6 billion in August, down from NOK 31.1 billion in the prior month.

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