Lowest trade surplus for Norway since 2005

The trade balance surplus was NOK 22.2 billion in May. This is a decline of 47.2 per cent from last May and the lowest since June 2005. This is shown by fresh figures from Statistics Norway. The export of goods amounted to NOK 55.1 billion while total imports ended at NOK 32.9 billion. The low trade surplus is caused by a relatively larger decrease in exports than imports. Exports fell by NOK 27 billion compared to May last year. This decrease was mainly caused by far lower value of crude oil. The value of natural gas and metals also declined. Imports went down by NOK 7.2 billion, where cars and metalliferous ores showed the biggest decline. The value of crude oil was NOK 17.8 billion in May, nearly half that of May last year. The oil exports in May ended at 47.4 millio
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The Norwegian American

Published since May 17, 1889 PO Box 30863 Seattle WA 98113 Tel: (206) 784-4617 • Email: naw@na-weekly.com

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