RTTNews - Norway's current account surplus narrowed to NOK 76 billion in the first quarter from NOK 144 billion surplus recorded in the fourth quarter of 2008, the Statistics Norway said Wednesday.

The surplus in the balance of trade in goods was NOK 87 billion, down NOK 26 billion from the first quarter of 2008. The agency said the weakening was mainly due to a substantial fall in international prices of oil and natural gas.

Norway's exports of goods amounted to NOK 200 billion in the first quarter, a decline of 15% from the corresponding quarter in 2008. On the other hand, the value of imported goods was NOK 113 billion, down 8% over the previous year.

Trade in services generated a surplus of NOK 13 billion.

The balance of income and current transfers was a deficit of NOK 25 billion, down from a surplus of NOK 24 billion in the previous quarter.

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