FX.co ★ Norway Trade Surplus Grows In August

Norway's foreign trade surplus saw a modest increase in August compared to the same period last year, according to data released by Statistics Norway on Thursday.

The trade surplus rose to NOK 66.0 billion this August, up from NOK 64.4 billion in August of the previous year. It also marked a rise from NOK 58.6 billion in July.

Exports experienced an annual growth of 6.2 percent in August, while imports jumped by 9.4 percent. The overall increase in exports was largely driven by heightened foreign demand for ships and oil platforms, with natural gas exports surging by 25.9 percent.

Month-over-month, both exports and imports witnessed increases of 6.2 percent and 1.9 percent, respectively.

Mainland exports remained stable compared to last year but rose by 5.3 percent from July. The mainland trade recorded a deficit of NOK 28.6 billion in August, an improvement from the NOK 31.1 billion deficit in the previous month.