Norway's merchandise trade surplus decreased significantly from last year in July as shipments grew at markedly slower rate than imports, data released by Statistics Norway showed Wednesday.
The trade surplus dropped by 15.2 percent to NOK30.3 billion in July from NOK35.72 billion in the same month a year earlier.
Export of goods, excluding ships and oil platforms, edged up 0.7 percent year-on-year to NOK71.7 billion during the month. Mainland exports fell 4.9 percent to the lowest value since August 2010, driven mainly by a sharp fall in dispatches of refined petroleum products
The value of imports climbed 16.6 percent annually to NOK41.4 billion, with the largest increase coming from the group ores and metal scrap. The greatest decline in imports was for chemical products in the product groups organic and inorganic chemical products.
In the January-July period exports advanced 9.3 percent from the same period a year earlier, while imports increased 1.7 percent.
by RTT Staff Writer
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