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Exports of traditional goods totalled NOK 11.6 billion. With imports valued at 16.9 billion, the trade deficit in trade in traditional goods with other countries totalled NOK 5.3 billion.
Boosted by the high price of crude oil and test production of gas from the Troll field, the export value of Norwegian crude oil and natural gas totalled NOK 11.7 billion in July, up 38.7 percent from the same month last year. Norway's trade surplus with other countries rose a total of NOK 1.9 billion in July compared to the same month last year.
High oil prices
The value of oil and gas exports amounted to NOK 377 million per day in July. This is NOK 100 million more per day than in July last year. The export price per barrel of crude oil was NOK 123 in July, compared to NOK 98 in the same month last year.
Gas from Troll
Ordinary production of gas from the Troll field started October 1. Test production of gas from Troll was, however, one of the reasons gas exports increased by 37 percent to NOK 1.6 billion in July this year. Exports of gas to the Continent were 42 percent higher than in July last year. Gas exports to Great Britain are on the other hand still sinking.