Norway Trade Surplus Increases In February

Norway’s trade surplus increased in February compared to the previous year, amid a sharp rise in exports, data from Statistics Norway showed on Tuesday.

The trade surplus rose to NOK 84.18 billion in February from NOK 20.008 billion in the same month last year. In January, the surplus was NOK 91.79 billion.

Exports surged 94.00 percent annually in February and imports gained 17.70 percent.

Export growth was driven by a 305.00 percent jump in shipments of natural gas.

Mainland exports grew 34.30 percent annually.

On a monthly basis, exports declined 3.80 percent, while imports rose 2.10 percent in February.

The mainland trade logged a deficit of NOK 18.70 billion versus NOK 19.50 billion a year ago.