Norway registered a sharp increase in both export and import in May

Norway registered a sharp increase in both export and import in May

Norway exported goods worth NOK 87.3 billion in May, which is close to 69% more than in May last year. At the same time, imports increased by almost 25%.

Imports of goods amounted to close to NOK 72 billion in May, an increase of close to 25%, according to Statistics Norway (SSB).

That generated a total trade surplus of around NOK 15.5 billion – an increase of 369.9% from May last year when there was a sharp deficit in the trade balance.

Exports of natural gas increased by almost 245% to more than NOK 19 billion due to significantly higher prices. Higher oil prices also contributed to crude oil exports doubling to NOK 26.5 billion.

Fish worth more than NOK 8 billion was also exported, of which fresh salmon and capelin accounted for more than half. Exports of metals, with the exception of iron and steel, amounted to NOK 5.4 billion.

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

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