Norway Trade Surplus Shrinks Slightly In October

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(RTTNews) - Norway's foreign trade surplus decreased somewhat in October from a year ago as imports fell faster than exports, data from Statistics Norway showed on Monday.

The trade surplus dropped to NOK 56.5 billion in October from NOK 56.6 billion in the same month last year. Nonetheless, the surplus grew considerably from NOK 35.0 billion in September.

Exports fell 3.9 percent annually in October, and imports were 5.8 percent lower. Outflows of ships and oil platforms plunged 100.0 percent, and that of natural gas declined by 23.8 percent.

On a monthly basis, exports jumped 17.2 percent, while imports rose only by 1.3 percent.

Mainland exports were 14.3 percent higher compared to last year, and they increased 17.2 percent from September. The mainland trade logged a deficit of NOK 23.5 billion in October, down from NOK 33.1 billion in the prior month.