Norway's trade surplus surged to NOK 34.9 billion in October 2018 from NOK 18.8 billion in the same month of the previous year. Exports soared 32.2 percent to NOK 99.5 billion, driven by sales of mineral fuels, lubricants & related materials (47.3 percent), in particular petroleum, petroleum products (60.3 percent) and gas, natural and manufactured (34.3 percent); food and live animals (12.1 percent); manufactured goods (9.4 percent); machinery & transport equipment (7.6 percent); and chemicals (24.5 percent). Meantime, imports rose at a softer 14.3 percent to NOK 64.6 billion, led by machinery and transport equipment (16 percent); miscellaneous manufactured articles (9.2 percent); manufactured goods classified chiefly by material (9.4 percent); and chemicals (23 percent). So far this year, the trade surplus widened 48.9 percent to NOK 233.4 billion from NOK 156.8 billion in the same period of 2017. Balance of Trade in Norway averaged 8593.25 NOK Million from 1960 until 2018, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -6100.20 NOK Million in November of 2017.

Balance of Trade in Norway is expected to be 27800.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Balance of Trade in Norway to stand at 22859.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 34600.00 NOK Million in 2020, according to our econometric models.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-15 06:00 AM Balance of Trade NOK25.3B NOK21.5B NOK 16.2B
2018-09-17 06:00 AM Balance of Trade NOK31.8B NOK24.5B NOK 15.4B
2018-10-15 06:00 AM Balance of Trade NOK21.1B NOK29B NOK 25.1B
2018-11-15 07:00 AM Balance of Trade NOK34.9B NOK22.2B NOK 19.2B
2018-12-17 07:00 AM Balance of Trade NOK34.9B NOK 15.1B
2019-01-15 07:00 AM Balance of Trade NOK 19.8B
2019-02-15 07:00 AM Balance of Trade


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 34898.50 22205.70 48677.18 -6100.20 NOK Million [+]
Current Account 91780.00 79084.00 122200.00 -16087.00 NOK Million [+]
Current Account to GDP 5.70 4.00 16.20 -6.10 percent [+]
Imports 64619.13 60698.33 84950.76 696.00 NOK Million [+]
Exports 99517.64 82904.03 99517.64 449.00 NOK Million [+]
External Debt 5235309.00 5222383.00 5585278.00 0.00 NOK Million [+]
Terms of Trade 108.23 108.40 115.90 75.84 Index Points [+]
Capital Flows 58208.00 154192.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1526.00 1555.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.00 0.00 4.71 0.00 [+]
Weapons Sales 134.00 150.00 278.00 1.00 USD Million [+]
Foreign Direct Investment 9055.00 -32914.00 118173.00 -219186.00 NOK Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Norway Balance of Trade

The Norwegian trade balance has been in surplus since 1989. In 2017, the trade surplus widened by 13 percent from the previous year to NOK 160 billion amid a recovery in oil prices, after falling by 35 percent in 2016. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France and Belgium; and the largest deficits were recorded with China, South Korea, Sweden, Russia and Italy. This page provides the latest reported value for - Norway Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Norway Balance of Trade - actual data, historical chart and calendar of releases - was last updated on December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
34898.50 22205.70 48677.18 -6100.20 1960 - 2018 NOK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 277.00 Oct/18
Australia 2316.00 Oct/18
Brazil 4062.09 Nov/18
Canada -1165.20 Oct/18
China 447.40 Nov/18
Euro Area 13141.70 Sep/18
France -4052.00 Oct/18
Germany 18300.00 Oct/18
India -16670.00 Nov/18
Indonesia -1819.90 Oct/18
Italy 1274.37 Sep/18
Japan -449.26 Oct/18
Mexico -2936.00 Oct/18
Netherlands 4850.00 Oct/18
Russia 19697.00 Oct/18
Saudi Arabia 162782.00 Jun/18
Singapore 4520.91 Oct/18
South Africa -5549.90 Oct/18
South Korea 5139.00 Nov/18
Spain -3297100.00 Sep/18
Switzerland 2637.00 Oct/18
Turkey -456.10 Oct/18
United Kingdom -3300.00 Oct/18
United States -55488.00 Oct/18


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