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Financial News: Norway Trade Surplus Increases In March

Norway Trade Surplus Increases In March

04/19/2022 - 07:00:00 (RTTNews)

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

The trade surplus rose to NOK 138.37 billion in March from NOK 21.108 billion in the same month last year. In February, the surplus was NOK 84.233 billion.

Exports rose 138.9 percent annually in March and imports rose 19.4 percent.

Export growth was driven by a 514.8 percent rise in shipments of natural gas.

Mainland exports gained 24.2 percent annually in March.

On a monthly basis, exports rose 46.7 percent and imports rose 25.6 percent in March.

The mainland trade logged a deficit of NOK 25.6 billion in March.

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