Norway’s trade balance swung to a deficit in June, as exports declined amid rising imports, data from Statistics Norway showed on Wednesday.
The trade balance registered a deficit of NOK 10.24 billion in June versus a surplus of NOK 6.06 billion in the same month last year. In May, the trade deficit was NOK 1.39 billion.
Exports dropped 15.56 percent year-on-year in June and decreased 0.6 percent from a month ago.
At the same time, imports rose 10.0 percent annually in June and increased 14.8 percent from the previous month.
The mainland trade deficit increased to NOK 30.77 billion in June from NOK 24.85 billion in the previous month. In the same month last year, the trade deficit was NOK 22.99 billion.
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