Norway reports rare trade deficit amid drop in oil price

Norway on Tuesday reported it’s first monthly trade deficit in almost two years, a rare event triggered by a sharp fall in its sale of natural gas and a decline in the price of crude oil, the country’s two most important exports.

The September trade deficit amounted to 1.2 billion Norwegian crowns ($131.60 million), Statistics Norway said, and was only the third month of negative trade balance in the last two decades, Reuters reported.