Norway trade surplus narrowed to NOK 28.77 billion in January 2019 from NOK 30.96 billion in the same month of the prior year. Imports rose 9.5 percent year-on-year to NOK 60.1 billion, mainly led by food and live animals (16.9 pct); crude materials, inedible, except fuels (14.8 pct), chemical and related products n.e.s (2.8 pct), and mineral fuels, lubricants and related materials (1.2 pct). Meantime, exports grew at a softer 3.5 percent to NOK 88.9 billion, mainly driven by food and live animals (13.5 pct); manufactured goods classified chiefly by material (11.5 pct); crude materials, inedible, except fuels (10.3 pct), and machinery and transport equipment (5.8 pct). Balance of Trade in Norway averaged 8635.47 NOK Million from 1960 until 2019, 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 18400.00 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 23700.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 17200.00 NOK Million in 2020, according to our econometric models.

Norway Balance of Trade
width
height
Forecast Data Chart
Trading Economics members can view, download and compare data from nearly 200 countries, including more than 20 million economic indicators, exchange rates, government bond yields, stock indexes and commodity prices.

The Trading Economics Application Programming Interface (API) provides direct access to our data. It allows API clients to download millions of rows of historical data, to query our real-time economic calendar, subscribe to updates and receive quotes for currencies, commodities, stocks and bonds.


Calendar GMT Actual Previous Consensus TEForecast
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 NOK26.2B NOK34.2B NOK 15.1B
2019-01-15 07:00 AM Balance of Trade NOK25.0B NOK25.7B NOK 27.8B
2019-02-15 07:00 AM Balance of Trade NOK28.8B NOK25B NOK28.7B
2019-03-15 07:00 AM Balance of Trade NOK28.8B NOK22.5B
2019-04-16 06:00 AM Balance of Trade NOK18.4B
2019-05-15 06:00 AM Balance of Trade NOK15.1B


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 28774.00 25037.00 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 60078.00 53186.69 84950.76 696.00 NOK Million [+]
Exports 88851.00 78223.51 99710.44 449.00 NOK Million [+]
External Debt 5235309.00 5222383.00 5585278.00 0.00 NOK Million [+]
Terms of Trade 105.38 108.23 115.90 75.84 Index Points [+]
Capital Flows 58208.00 154192.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1511.00 1329.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.15 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 February of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
28774.00 25037.00 48677.18 -6100.20 1960 - 2019 NOK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 1369.00 Dec/18
Australia 3681.00 Dec/18
Brazil 2190.00 Jan/19
Canada -2060.10 Nov/18
China 391.60 Jan/19
Euro Area 16990.70 Dec/18
France -4653.00 Dec/18
Germany 13900.00 Dec/18
India -14730.00 Jan/19
Indonesia -1159.50 Jan/19
Italy 3658.00 Dec/18
Japan -55.29 Dec/18
Mexico 1836.32 Dec/18
Netherlands 3572.00 Dec/18
Russia 18856.00 Dec/18
Saudi Arabia 184673.00 Sep/18
Singapore 1943.12 Dec/18
South Africa 17167.41 Dec/18
South Korea 1336.00 Jan/19
Spain -2568800.00 Nov/18
Switzerland 1787.14 Dec/18
Turkey -2674.41 Dec/18
United Kingdom -3229.00 Dec/18
United States -49313.00 Nov/18


Related

Latest