SSB: Norway registered robust export growth in January

Norway had a trade surplus of NOK 91.8 billion in January. Exports more than doubled from the same month last year and ended at NOK 160.4 billion.

According to new figures from Statistics Norway (SSB), imports increased by 23.3% and ended at NOK 68.6 billion.

Exports more than doubled from the same month last year and ended at NOK 160.4 billion. Thus, the trade surplus amounted to NOK 91.8 billion.

Natural gas accounted for almost half of total exports, and is the most important single reason for the growth. Exports of natural gas ended at NOK 79.1 billion in January – more than four times as much as the same month last year.

Crude oil and mainland exports also contributed to the increase. Crude oil amounted to NOK 35.2 billion in the first month of the year, 43.3% higher than the corresponding month last year. Mainland exports ended at NOK 45.9 billion, 28.8% higher than the same month last year.

Of other changes in the last 12 months, electricity was exported for NOK 2.2 billion in January, a doubling compared to the previous year. Increased prices are the main reason for the increase in value.

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