Posted on August 17, 2022

Exports from Norway reached a record in July, mainly caused by natural gas prices which have increased since Russia’s invasion of Ukraine.

The Statistics Agency announced that exports from Norway reached 229 billion kroner (€23.2 billion) last month, 0.4% higher than the previous record set in March 2022.

Norway’s trade surplus of 153.2 billion kroner (€15.5 billion) also was the highest on record.

Norway is a major producer of offshore oil and gas. Their energy exports have surged as European countries struggle to find alternatives to Russian energy in response to Moscow’s invasion of Ukraine.

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