Norway's foreign trade surplus increased markedly in May from a year ago amid a sharp rise in exports, data from Statistics Norway showed on Wednesday.
The trade surplus rose to NOK 86.6 billion in May from NOK 18.3 billion in the same month last year. In April, the surplus was NOK 92.8 billion.
Exports jumped 93.6 percent annually in May and imports rose 23.0 percent.
Export growth was mainly driven by a 182.0 percent surge in shipments of natural gas and a 95.2 percent rise in shipments of crude oil.
Mainland exports were 41.0 percent higher in May compared to a year ago.
On a monthly basis, both exports and imports climbed by 6.2 percent and 22.7 percent, respectively, in May.
The mainland trade logged a deficit of NOK 31.5 billion in May with exports growing only 0.2 percent yearly.
