Norway's foreign trade surplus increased sharply in May from a year ago as exports grew faster than imports, data from Statistics Norway showed on Monday.
The trade surplus rose to 62.6 billion Norwegian kroner ($6.6 billion) in May from 44.1 billion kroner in the same month last year. Meanwhile, the surplus decreased from 83.6 billion kroner in April.
Exports surged 15.2% annually in May, and imports were 2.6% higher. Crude oil exports jumped 31.2% from last year, and the outflows of natural gas increased by 19%.
The mainland trade deficit narrowed to 32.8 billion kroner in May from 33.6 billion kroner in the prior month. Mainland exports logged a monthly increase of 4.9%.
