Norway's trade surplus decreased to NOK30.27 billion in March from NOK39.64 billion in the previous year, the Statistics Norway said Friday.

Exports declined 12.8% year-on-year in March to NOK66.46 billion, mainly due to lower oil prices, while imports fell 1% to NOK36.18 billion.

Excluding oil, natural gas and condensates, there was a trade deficit of NOK9.67 billion in March, higher than a deficit of NOK9.34 billion last year.

In the first quarter, the trade surplus narrowed to NOK92.53 billion from NOK113.98 billion in the corresponding period last year. Exports dropped 14.1% annually to NOK197.18 billion, while imports slipped 9.5% to NOK104.65 billion.

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