Norway Trade Surplus Grows In December

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Kaufen / Verkaufen

(RTTNews) - Norway's foreign trade surplus increased in December from a year ago amid strong growth in exports, data from Statistics Norway showed on Wednesday.

The trade surplus rose to NOK 83.2 billion in December from NOK 77.3 billion in the same month last year. The surplus also grew from NOK 74.06 billion in November.

Exports climbed 8.4 percent annually in December, and imports advanced by 9.3 percent. The overall increase in exports was mainly driven by a 30.2 percent growth in outflows of beverages and tobacco.

Shipments of natural gas surged 17.5 percent, while crude oil exports were 6.5 percent lower.

On a monthly basis, exports gained 2.1 percent, while imports fell by 6.2 percent.

Mainland exports showed an increase of 12.3 percent compared to last year, while they fell 5.2 percent from November. The mainland trade logged a deficit of NOK 25.2 billion in December, down from NOK 27.6 billion in the prior month.