Norway Trade Surplus Grows In March

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(RTTNews) - Norway's foreign trade surplus increased sharply in March from a year ago as exports grew much faster than imports, data from Statistics Norway showed on Wednesday.

The trade surplus rose to NOK 97.5 billion in March from NOK 58.9 billion in the same month last year. The surplus also increased from NOK 44.9 billion in February.

Exports surged 28.5 percent annually in March, and imports were 5.9 percent higher.

Crude oil exports jumped 67.9 percent from last year, and that of natural gas grew by 19.0 percent. On the other hand, there was a 100 percent fall in exports of ships and oil platforms.

The mainland trade deficit narrowed to NOK 29.4 billion in March from NOK 31.7 billion in the prior month. Mainland exports logged a strong monthly growth of 29.4 percent.