Norway's trade surplus rose notably in August as export growth outpaced that of imports, data from Statistics Norway showed Monday.
The trade surplus increased 15.1 percent year-on-year to NOK 33.8 billion in August. The combination of large growth in exports relative to the import growth led to the increased trade surplus, the statistical office said.
Exports rose 7.5 percent year-on-year during the month to NOK 74.8 billion. Meanwhile, imports increased 1.9 percent to NOK 41.1 billion.
According to the statistical office, the main reason for the increase in exports was the rise in the value of natural gas exports while a higher value of crude oil also contributed.
The exports of mainland goods in August were stable compared to the corresponding month the previous year, and increased by only NOK 223 million to NOK 29.5 billion.
by RTT Staff Writer
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