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Financial News: Norway Trade Surplus Grows In June

Norway Trade Surplus Grows In June

07/08/2022 - 04:53:00 (RTTNews)

(RTTNews) - Norway's foreign trade surplus increased in June from a year ago, as exports grew faster than imports, data from Statistics Norway showed on Friday.

The trade surplus rose to NOK 87.458 billion in June from NOK 25.069 billion in the same month last year. In May, the surplus was NOK 86.34 billion.

Exports jumped 77.9 percent annually in June and imports rose 20.1 percent.

Export growth was mainly driven by a 232.1 percent surge in shipments of natural gas and a 59.9 percent rise in shipments of crude oil.

Mainland exports were 19.1 percent higher in June compared to a year ago.

On a monthly basis, exports increased 0.6 percent, while imports dropped marginally by 0.1 percent.

The mainland trade deficit widened to NOK 32.4 billion in June from NOK 26.1 billion in the corresponding month last year.

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