News, Oil & Gas

Norwegian Oct. Trade Surplus Increases

Norway's trade surplus rose to NOK 26.7 billion in October from NOK 26.2 billion a year ago, Statistics Norway reported Tuesday.

Exports grew by 5.5 percent annually mainly due to higher prices of both crude oil and natural gas. At the same time, imports were up 7.7 percent.

 

Data showed that the total export volume of crude oil in October, at 37.2 million barrels, was the lowest recorded this year. The export value fell 12 percent from September to October.

 

Due to rising prices, the export value of natural gas grew 9 percent. The exported volume, on the other hand, fell slightly.