Financial News: Norway Trade Surplus Shrinks In July

Norway Trade Surplus Shrinks In July

08/15/2024 - 04:23:00 (RTTNews)

(RTTNews) - Norway's foreign trade surplus decreased in July from a year ago as imports grew much faster than exports, data from Statistics Norway showed on Thursday.

The trade surplus decreased to NOK 59.3 billion in July from NOK 66.8 billion in the same month last year. The surplus also declined from NOK 60.9 billion in June.

Exports climbed 2.8 percent annually in July, while imports surged by 15.6 percent. The slower growth in exports was due to a 100.0 percent plunge in demand for ships and oil platforms. However, the overall upturn was largely attributed to a 9.2 percent rise in natural gas exports.

On a monthly basis, both exports and imports declined by 1.5 percent and 0.6 percent, respectively.

Mainland exports rose 2.9 percent over last year, while they dropped 4.2 percent from May. The mainland trade logged a deficit of NOK 30.8 billion in July, up from NOK 20.9 billion in the prior month.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Swiss Consumers More Pessimistic In August (49 min(s), 16 sec(s) ago)
(RTTNews) - Confidence among Swiss consumers remained more negative in August, survey results from ...Full Story»

U.S. Job Growth Misses Estimates In August But Unemployment Rate Dips (16 min(s), 16 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Czech Industrial Output Decline Softens; Trade Deficit Narrows (20 min(s), 44 sec(s) ago)
(RTTNews) - The Czech Republic's industrial production decreased for the fifth straight month, ...Full Story»

U.S. Employment Climbs Less Than Expected In August (27 min(s), 44 sec(s) ago)
(RTTNews) - Employment in the U.S. rose by less than expected in the month of August, according to ...Full Story»

Eurozone GDP Growth Slows In Q2 (53 min(s), 44 sec(s) ago)
(RTTNews) - Euro area economic growth rate for the second quarter was revised down as the positive ...Full Story»

France Industrial Output Falls 0.5% (01 hr(s), 20 min(s), 44 sec(s) ago)
(RTTNews) - France's industrial production decreased more-than-expected in July after reboundi ...Full Story»

Italy Retail Sales Rebound 0.5% (02 hr(s), 07 min(s), 44 sec(s) ago)
(RTTNews) - Italy's retail sales increased more-than expected in July after falling in the pre ...Full Story»

French Trade Gap Narrows In July (02 hr(s), 38 min(s), 44 sec(s) ago)
(RTTNews) - France's trade deficit decreased in July from a year ago as imports fell faster th ...Full Story»