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Financial News: Norway Trade Surplus Increases On Strong Exports

Norway Trade Surplus Increases On Strong Exports

01/16/2023 - 04:16:00 (RTTNews)

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

The trade surplus rose to NOK 148.775 billion in December from NOK 107.925 billion in the same month last year. In November, the surplus was NOK 99.997 billion.

Exports grew 28.1 percent annually in December and imports advanced 14.7 percent.

Shipment growth was mainly driven by a 41.6 percent surge in natural gas and a 12.1 percent gain in shipments of crude oil.

Mainland exports climbed 25.6 percent annually in December.

On a monthly basis, exports rose 22.1 percent and imports fell 5.5 percent in December.

The mainland trade logged a deficit of NOK 25.5 billion in December.

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