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Norway December Trade Surplus Narrows

1/15/2013 6:32 AM ET

Norway trade surplus for December narrowed from a year ago as exports declined more than imports, data released by Statistics Norway showed on Tuesday.

Trade balance revealed a surplus of NOK 35.24 billion in December compared to NOK 40.26 billion a year ago.Exports fell 9.7 percent annually, while imports declined 6.9 percent.

Mainland exports, which excludes crude oil, natural gas and condensates, fell 8.9 percent year-on-year to NOK 26.6 billion.

Crude oil exports tumbled 21.9 percent, while natural gas shipments rose 5.1 percent. Exports of condensates shrunk 2.5 percent.

For the whole year 2012, Norway recorded a trade surplus of NOK 425.024 billion, which was larger than the NOK 395.074 billion logged in 2011.

Exports rose 4.2 percent, while imports increased 1.5 percent. In 2012, natural gas exports reached a record high, the agency said.

by RTT Staff Writer

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