Norway hits export file amid hovering fuel costs

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STOCKHOLM (AP) — Norway’s exports reached a file in July, pushed primarily by larger pure fuel costs.The Scandinavian nation’s statistics company on Monday stated Norwegian exports reached 229 billion kroner ($24 billion) final month, 0.4% larger than the earlier file set in March this yr.Norway’s commerce surplus of 153.2 billion kroner ($15.8 billion) additionally was the very best on file.Norway, a significant producer of offshore oil and fuel, has seen vitality exports surge as European international locations scramble to search out options to Russian vitality in response to Moscow’s invasion of Ukraine.Statistics Norway stated pure fuel exports reached 128 billion kroner ($13.2 billion) in July, greater than 4 occasions larger than in the identical month final yr.Jon Olav Roerhus, senior adviser for exterior commerce at Statistics Norway, stated reductions in Russian fuel deliveries to Europe by means of the Nord Stream 1 pipeline contributed to hovering fuel costs final month, which had been “the primary cause for the exceptionally excessive export worth we are actually experiencing.”Greater fish and metals exports additionally contributed to the rise.

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