Norway’s trade balance yielded surplus of NOK 122.4bn (EUR 11.82bn) in September, during which total revenues came to NOK 217.8bn. The nation’s trade surplus is twice as high as in September 2021.

Growth is attributed not least to rising oil and gas prices, which have ensured strong export conditions for the oil and gas industry in Norway, says Head of Section at Norwegian statistics office Statistisk Sentralbyrå Therese Løken Vestre to Norwegian media E24.

”Growth in September is heavily driven by high prices of oil, gas, refined oil products, power, fish and metals. Prices far exceed levels seen in spring, but for several of these important export commodities, prices have been falling over the past months,” she says.

Norway’s crude exports came to NOK 42.1bn in September, while natural gas exports added NOK 113bn to the state coffers, corresponding to increases of 57.7% and 277% respectively compared to the same time last year.

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