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Financial News: Norway's Trade Balance Logs Deficit For First Time

Norway's Trade Balance Logs Deficit For First Time In Nearly 2 Years

10/15/2019 - 02:17:00 (RTTNews)

(RTTNews) - Norway's trade balance showed a deficit for the first time in nearly two years in September, data from Statistics Norway revealed Tuesday.

The trade deficit came in at NOK 1.22 billion in September versus a surplus of NOK 5.28 billion in August. In the same period last year, the surplus totaled NOK 22.3 billion.

This was the first shortfall since November 2017.

The mainland trade deficit widened to NOK 29.1 billion from NOK 22.42 billion in August.

Exports plunged 19.5 percent annually, while imports grew 12.9 percent in September. On a monthly basis, exports grew only 0.1 percent and imports advanced 10.9 percent.

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