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Norway records best export results in Q3 in 18 years

Norway export
Europe   More than 80% of the growth is due to an increase in the export of crude oil

The preliminary estimate of more than 348 billion kroner (40.95 billion U.S. dollars) in Norway's total export of goods and services in the third quarter was the highest since the start of the millennium, the country's statistics bureau said.


More than 80 percent of the growth from the second quarter is due to an increase in the export of crude oil and natural gas as a result of growth in prices of oil and natural gas, according to a statement from Statistics Norway.

In total, the export of crude oil and natural gas represents 42 percent of the total export, it said.

The export value of other goods, which means other than crude oil and natural gas, and other than ships, declined by 5 billion kroner in the third quarter from a high level in the previous quarter, the statistics bureau said.

The export of services, on the other hand, increased by 9 billion kroner to a record high, it added.

Meanwhile, the total import in the 3rd quarter was 292 billion kroner, about 5 billion kroner lower than in the second quarter, but higher than the average of imports of the four previous quarters.

The balance of goods and services is preliminarily calculated at 56 billion kroner, up from 34 billion kroner in the second quarter.

 

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