Norwegian economy: Increased Q1 trade surplus

The surplus in Norway’s current account with the rest of the world ended at NOK 118 billion in the 1st quarter of 2014. This was NOK 24 billion more than the surplus in the previous quarter.

Statistics Norway report that the increase was due to a strenghtened goods and services balance, as well as lower net transfers to the rest of the world. 

The trade in goods and services gave a surplus of NOK 104 billion, while the income and current transfers ended with a surplus of NOK 13 billion in the 1st quarter of 2014.

The exports of crude oil and natural gas is slightly higher than last year due to a rise in volume. Traditional goods were at the same level. 

The value of imports of goods was NOK 138 billion, which was below the level of the 4th quarter last year.

 

To read more, please visit The Norway Post here.

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