Norway's current account surplus increased in the fourth quarter, largely reflecting the improvement in trade in goods and services, Statistics Norway said Wednesday.
The surplus on trade in goods and services rose to NOK 107 billion from NOK 97 billion in the third quarter. Meanwhile, the surplus in income and current transfers fell to NOK 6 billion from NOK 14 billion a quarter ago.
Altogether, the surplus on the current account balance was NOK 396 billion in 2011, which was NOK 82 billion higher than in 2010. Both the balance of goods and services and income and current transfers contributed to the surplus on the current account in 2011.
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