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Norway's Trade Surplus Rises January

2/15/2012 4:19 AM ET

Norway's trade surplus increased in January mainly due to a surge in natural gas exports, Statistics Norway said Wednesday.

The trade surplus rose 22.6 percent from last year to NOK 44.1 billion in January. The upturn was due to a combination of 10.2 percent annual rise in exports and a marginal 1.4 percent reduction in imports.

Exports increased mainly due to 40 percent surge in shipments of natural gas. Natural gas exports totaled NOK 24.2 billion during the month. Meanwhile, crude oil exports declined 7.6 percent from last year despite an increase in oil prices.

Mainland exports also rose 10 percent over the same period, while imports remained unchanged.

by RTT Staff Writer

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