Norway registered a record trade surplus in September due to high oil and gas prices

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Norway registered a record trade surplus in September due to high oil and gas prices

High oil and gas prices contributed to Norway having a record trade surplus of NOK 53.7 billion in September.

In September, Norway exported goods worth NOK 129.5 billion, an increase of 11.9% from last month’s export record, according to figures from Statistics Norway (SSB).

According to the SSB, international conditions have led to high prices for important export goods such as oil, natural gas, and aluminum. At the same time, fish exports have never been higher, with a value of NOK 11.5 billion in September.

Crude oil exports more than doubled from September last year and ended at NOK 30.4 billion. The value of natural gas exports ended at as much as NOK 48.7 billion in September, a nearly sevenfold increase from September last year. Thus, Norway earned almost NOK 79 billion on oil and gas last month.

Imports of goods increased by 10% to NOK 75.8 billion in September, the second-highest import value measured in a single month. The trade surplus thus ended at NOK 53.7 billion, the highest ever measured.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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