The trade surplus in April almost doubled after the decline in 2016

Oil platform, trade surplusOil platform.Photo pixabay.com

Solid trade surplus, after record low prices in 2016

Increased export revenues from oil and gas now provides a solid trade surplus, after record low prices in 2016.

 

The trade surplus in April has almost doubled, to NOK 22.2 billion, shows figures from Statistics Norway (SSB).

In 2016 the trade surplus was weakened by 35.4 per cent, and the low oil and gas prices dropped 10 per cent in the export value of Norwegian goods.

The value of oil and gas exports reached their lowest point in 2016 since 2004. These are now rising again, thanks to increased revenues from stock products such as oil and natural gas.

increase of 7.5 per cent in April

In April, exports of Norwegian goods amounted to NOK 66.2 billion, an increase of 7.5 per cent from the same period in 2016, according to a report from Statistics Norway.

Total exports increased by NOK 4.6 billion, despite the fact that mainland exports were reduced by NOK 812 million. Especially fish exports were low in April.

An important factor in comparing the figures is that Easter fell in April this year, as opposed to March in 2016.

 

© NTB Scanpix / Norway Today

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