Norway’s trade balance swung to a deficit in July, as exports declined and imports rose, data from Statistics Norway showed on Monday.
The trade balance registered a deficit of NOK 1.8 billion in July versus a surplus of NOK 6.9 billion in the same month last year. In June, the trade deficit was NOK 10.37 billion.
Exports declined 12.5 percent year-on-year in July, but increased 3.9 percent from a month ago.
Imports rose 0.5 percent annually in July, but decreased 9.7 percent from the previous month.
The mainland trade deficit decreased to NOK 27.24 billion in July from NOK 30.97 billion in the previous month. In the same month last year, the trade deficit was NOK 22.9 billion.
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