Norway's trade surplus plunged to NOK 3.2 billion in April 2020 from NOK 15.1 billion in the same month a year earlier. Exports plummeted 24 percent, due to lower sales of food and live animals (-8.1 percent), mineral fuels, lubricants & related materials (-37.7 percent), machinery & transport equipment (-31.9 percent), and miscellaneous manufactured articles (-6.2 percent). Meanwhile, imports dropped at a softer 10.8 percent, as purchases declined for mineral fuels, lubricants and related materials (-31.7 percent), machinery and transport equipment (-28.2 percent), and miscellaneous manufactured articles (-15.7 percent).
Balance of Trade in Norway averaged 8724.36 NOK Million from 1960 until 2020, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -5680 NOK Million in April of 1986. 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 - data, historical chart, forecasts and calendar of releases - was last updated on May of 2020. source: Statistics Norway
Balance of Trade in Norway is expected to be 10500.00 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 21700.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 17200.00 NOK Million in 2021 and 20200.00 NOK Million in 2022, according to our econometric models.