RTTNews - Monday, the Statistics Norway announced that the trade surplus stood at NOK 22.2 billion in May, down from NOK 42.08 billion last year. This was the lowest trade surplus since June 2005.

Exports declined 32.9% annually to NOK 55.14 billion in May, while imports dropped 17.8% to NOK 32.94 billion.

The low trade surplus was mainly due to relatively larger decrease in exports than imports, the stat office said.

For the January to May period, the trade surplus amounted to NOK 137.805 billion. Exports and imports dropped by 22.6% and 13.6%,respectively.

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