2023.12.1509:18:00UTC+00Norway Trade Surplus Shrinks To NOK 80.1 Bln

Norway's foreign trade surplus decreased in November from a year ago as exports fell faster than imports, data from Statistics Norway showed on Friday.

The trade surplus shrank to 80.1 billion in November from NOK 102.3 billion in the same month last year. The surplus also fell from NOK 85.8 billion in October.

Exports fell 14.3 percent annually in November, and imports dropped by 6.5 percent. The downward trend in exports was driven by a 55.0 percent slump in demand for ships and oil platforms and a 31.7 percent decline in natural gas outflows.

On a monthly basis, exports slid 1.9 percent in November, while imports increased by 2.7 percent.

Mainland exports climbed 9.0 percent over last year, and they advanced 0.5 percent from October. The mainland trade logged a deficit of NOK 26.7 billion in November versus NOK 24.7 billion in October.