Norway Trade Surplus Shrinks In June

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(RTTNews) - Norway's foreign trade surplus declined notably in June from a year ago as exports fell amid an increase in imports, data from Statistics Norway showed on Friday.

The trade surplus dropped to NOK 47.4 billion in June from NOK 66.6 billion in the same month last year. In May, the surplus was 46.9 billion.

Exports plunged 9.5 percent annually in May, and imports were 5.2 percent higher. The overall decrease in exports was driven by a 99.9 percent slump in outflows of ships and oil platforms.

On a monthly basis, exports rose 0.9 percent, while imports decreased by 0.1 percent.

Mainland exports were 15.1 percent higher compared to last year, and they grew 7.5 percent from May. The mainland trade logged a deficit of NOK 26.9 billion in June, down from NOK 31.6 billion a month ago.