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Norway Exports Decline Sharply In July

Norway's exports declined sharply in July from last year, Statistics Norway reported Thursday.

Exports plunged 19.1 percent year-on-year in July reflecting weak demand for natural gas. Meanwhile, imports advanced 8.7 percent.

On a monthly basis, exports gained 0.8 percent, while imports dropped 0.6 percent in July.

The trade surplus increased to NOK 6.45 billion from NOK 5.58 billion in June. However, the surplus declined sharply from NOK 26.84 billion surplus seen in the same period last year.

The mainland trade balance showed a deficit of NOK 22.85 billion in July compared to NOK 22.96 billion shortfall in June.

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