First trade deficit in almost 20 years

Decrease in total taxes Debt trade deficitMoney. Photo: Norway Today Media

First trade deficit in almost 20 years

In June, Norway had a trade deficit of NOK 750 million, despite the fact that exports increased clearly. Last time Norway had trade deficit, was in 1998.


Imports of goods in June were NOK 67 billion, while exports ended at 66.3 billion, according to Statistics Norway (SSB).

In particular, imports of goods increased, which amounted to NOK 13.2 billion more than in the same month last year. According to Statistics Norway, the increase is due to strong upswing in a few product groups, especially oil platforms and aircraft designs.

– Exports also increased by NOK 5.9 billion. This is due to increased exports of crude oil, natural gas and mainland products. In summary, this still led to a trade deficit in June, writes Statistics Norway.


© NTB Scanpix / Norway Today

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