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Norway Trade Surplus Shrinks In March

Norway Trade Surplus Shrinks In March

OSLO: Norway’s foreign trade surplus decreased notably in March from a year ago, as imports grew much faster than exports, preliminary figures from Statistics Norway showed Monday.

The trade surplus decreased to NOK 14.98 billion in March from NOK 19.07 billion in the corresponding month last year. The surplus also fell from NOK 21.06 billion in February.

Exports rose 2.6 percent year-over-year in March and imports surged by 10.6 percent.

On a monthly basis, both exports and imports advanced by 8.2 percent and 23.4 percent, respectively.

At the same time, the mainland trade deficit widened to NOK 26.05 billion from NOK 17.13 billion in the same month of 2017.