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Financial News: Norway Trade Surplus Increases In April

Norway Trade Surplus Increases In April

05/16/2022 - 04:42:00 (RTTNews)

(RTTNews) - Norway's trade surplus increased in April compared to the previous year amid a sharp rise in exports, data from Statistics Norway showed on Monday.

The trade surplus rose to NOK 92.566 billion in April from NOK 18.546 billion in the same month last year. In March, the surplus was NOK 137.436 billion.

Exports rose 93.9 percent annually in April and imports rose 9.2 percent.

Export growth was mainly driven by a 271.7 percent rise in shipments of natural gas and 67.0 percent jump in shipments of crude oil.

Mainland exports gained 24.7 percent annually in April.

On a monthly basis, exports declined 27.2 percent and imports fell 18.9 percent in April.

The mainland trade logged a deficit of NOK 23.0 billion in April with exports growing 24.7 percent.

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