Norway Trade Surplus Shrinks Sharply In December

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(RTTNews) - Norway's foreign trade surplus decreased significantly in December from a year ago as exports plunged amid an increase in imports, data from Statistics Norway showed on Thursday.

The trade surplus dropped to NOK 42.9 billion in December from NOK 78.5 billion in the same month last year. In November, the surplus was NOK 41.3 billion.

Exports tumbled 17.8 percent annually in December, while imports rose by 6.1 percent. The decrease in exports was mainly driven by a 100.0 percent slump in ships and oil platforms. Natural gas exports were 33.7 percent lower.

On a monthly basis, exports dropped 0.7 percent, and imports slid by 2.7 percent.

Mainland exports also showed an annual decrease of 0.5 percent, and they fell 5.2 percent compared to the previous month. The mainland trade logged a deficit of NOK 35.1 billion in December, widened from NOK 34.4 billion in the prior month.