Norway Trade Surplus Shrinks In September

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

The trade surplus dropped to NOK 36.9 billion in September from NOK 37.7 billion in the same month last year. The surplus also declined considerably from NOK 59.9 billion in August.

Exports rose only 0.6 percent annually in September, and imports were 1.8 percent higher. Outflows of crude materials, inedible except for fuels, fell 8.4 percent, while that of machinery and transport equipment grew by 9.8 percent.

On a monthly basis, exports plunged 8.0 percent, while imports surged by 14.0 percent.

Mainland exports were 5.8 percent higher compared to last year, and they increased 1.1 percent from August. The mainland trade logged a deficit of NOK 31.3 billion in September, up from NOK 20.3 billion in the prior month.