Norway has reported a trade surplus of NOK 58.7 billion in May, or an increase from NOK 45.3 billion in the same month of 2023.The nations total exports went up 9.9% year-on-year to NOK 153.2 billion,
Norway reports NOK 58.7 billion trade surplus in May
Norway has reported a trade surplus of NOK 58.7 billion in May, or an increase from NOK 45.3 billion in the same month of 2023.
The nation’s total exports went up 9.9% year-on-year to NOK 153.2 billion, the latest data by Statistics Norway showed.
In May, shipments rose for animal & vegetable oils, fats & waxes (30.8% YoY), machinery & transport equipment (17.4% YoY), beverages & tobacco (17% YoY) and crude materials, indelible, except fuels (17% YoY).
Norway’s total imports went up 0.5% year-on-year in May, as purchases rose for animal & vegetable oils, fats & waxes (127.3% YoY), mineral fuels, lubricants & related materials (44.5% YoY) and crude materials, indelible, except fuels (14.5% YoY).
When taking into account the first five months of this year, the trade surplus stood at NOK 304.3 billion, a 22.9% decrease compared to the respective period of 2023.
The Norwegian Krone was last 0.66% weaker on the day against the US Dollar, with the USD/NOK currency pair trading at 10.7191.
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