RTTNews - Monday, the Statistics Norway announced that Norway's trade surplus stood at NOK 30.8 billion in July, up 39% from NOK 22.14 billion in the previous month.
The monthly growth was largely attributed to higher exports driven by increased revenues from exports of crude oil, fish and machines. However, the trade surplus fell 23.7% from the same period of the previous year.
Exports fell by 21.9% in July from the year-ago period and stood at NOK 62.7 billion, mainly due to the low crude oil prices. Crude oil revenue fell by 30.2% year-on-year, while natural gas exports fell by 22%.
In July, exports of goods, excluding ships, oil platforms, crude oil, condensates and natural gas decreased by 12.4% from the previous year to stand at NOK 26.2 billion.
Imports were down by 20.1% from the year-ago period in July and stood at NOK 31.8 billion. Imports of machinery and transport equipment recorded the biggest decrease, down NOK 3 billion to total NOK 12 billion for July.
During the January to July period, trade surplus stood at NOK 190.18 billion with exports sliding 23.3% and imports down 14.3% from a year ago.
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