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Significant decline in both imports and exports

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Norway exported crude oil worth NOK 46.6 billion in March, an increase of 15.7 per cent from the same month last year. Nevertheless, exports overall are down 20.5 per cent. Photo: Ole Berg-Rusten / NTB

Of NTB | 15.04.2024 08:23:09

Economy and business: The decline in imports, which ended at NOK 78 billion, is mainly caused by consistently high imports last year, while the decline in exports is due to lower prices for natural gas, as well as a lower value of mainland exports.

– For mainland exports, the fall is broad, but especially fish, metals and refined petroleum products are reducing exports a lot, says senior advisor Jan Olav Rørhus in Statistics Norway (SSB).

While the export value of crude oil has risen by 15.7 per cent as a result of higher oil prices, the export of natural gas has fallen by as much as 40 per cent.

– Good access to gas in the European market has contributed to less pressure on gas prices this winter, says Rørhus.

(© NTB)

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