The export of goods in August amounted to NOK 72.1 billion, while imports reached NOK 40 billion. The surplus on trade in goods was NOK 32 billion; over 50 per cent larger than August last year.
Mainland exports rose by almost 10 per cent from August last year. However, the gain was 27.2 per cent if we include crude oil, natural gas and condensates. The increase in overall trade surplus was driven by the increase in exports of crude oil and natural gas, Statistics Norway reports.
Crude oil exports came to NOK 25.8 billion in August; an increase of almost 30 per cent from last year, but a decline of 13 per cent from July. The reduction in value from July resulted both from a lower volume and price component, while they both increased compared to last August. Additionally, there was a significant hike in the price per barrel compared to a year ago, from NOK 487 to NOK 610. The price in July was even higher, at NOK 648.
The exports of natural gas amounted to NOK 16.9 billion in August, equalling an increase of 77 per cent compared to last year.
The increase in volume, in the same period, for natural gas in a gaseous state, came to almost 1.8 billion cubic metres, or 33 per cent.
(Press release)
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