Norway posted a trade surplus of NOK 25.4 billion in March 2021, shifting from NOK 1.7 billion gap in the same month a year earlier. This was the largest trade surplus since January 2019, as exports rose more than imports, amid an improving in global demand. Exports surged by 45.7 percent, due to higher sales of mineral fuels, lubricants & related materials (95.6%), manufactured goods classified chiefly by material (18.8 percent), chemicals and related products n.e.s (5.3%), food and live animals (12.8%), and miscellaneous manufactured articles (44.2%). Meanwhile, imports rose by 5.2 percent, as purchases grew for mineral fuels, lubricants and related materials (4.3%), machinery and transport equipment (6.3%), chemicals and related products n.e.s (9.4%), miscellaneous manufactured articles (17.6%), and crude materials, inedible, except fuels (13.7%), but were down for food and live animals (-6.6%), manufactured goods classified chiefly by material (-14.0%). source: Statistics Norway

Balance of Trade in Norway averaged 8659.81 NOK Million from 1960 until 2021, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -9914 NOK Million in June of 2020. 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 2021.

Balance of Trade in Norway is expected to be 10200.00 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 17200.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 17200.00 NOK Million in 2022 and 22200.00 NOK Million in 2023, according to our econometric models.

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Norway Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
25448.00 23552.00 48677.18 -9914.00 1960 - 2021 NOK Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-01-15 07:00 AM Dec NOK12.1B NOK0.2B NOK10.2B
2021-02-15 07:00 AM Jan NOK23.1B NOK12.1B NOK15.1B
2021-03-15 07:00 AM Feb NOK25.1B NOK22.4B NOK19.5B
2021-04-15 06:00 AM Mar NOK25.4B NOK23.6B NOK20B
2021-05-18 06:00 AM Apr NOK25.4B
2021-06-15 06:00 AM May
2021-07-09 06:00 AM Jun
2021-08-16 06:00 AM Jul


News Stream
Norway Posts Biggest Trade Surplus Since 2019
Norway posted a trade surplus of NOK 25.4 billion in March 2021, shifting from NOK 1.7 billion gap in the same month a year earlier. This was the largest trade surplus since January 2019, as exports rose more than imports, amid an improving in global demand. Exports surged by 45.7 percent, due to higher sales of mineral fuels, lubricants & related materials (95.6%), manufactured goods classified chiefly by material (18.8 percent), chemicals and related products n.e.s (5.3%), food and live animals (12.8%), and miscellaneous manufactured articles (44.2%). Meanwhile, imports rose by 5.2 percent, as purchases grew for mineral fuels, lubricants and related materials (4.3%), machinery and transport equipment (6.3%), chemicals and related products n.e.s (9.4%), miscellaneous manufactured articles (17.6%), and crude materials, inedible, except fuels (13.7%), but were down for food and live animals (-6.6%), manufactured goods classified chiefly by material (-14.0%).
2021-04-15
Norway Trade Surplus Largest in Over 2 Years
Norway’s trade surplus increased sharply to NOK 25.05 billion in February 2021 from NOK 15.30 billion in the same month a year earlier. This was the largest trade surplus since January 2019, as exports jumped while imports fell, amid an improving in global demand. Exports surged by 12.6 percent, due to higher sales of mineral fuels, lubricants & related materials (18.5%), manufactured goods classified chiefly by material (4.9 percent), machinery and transport equipment (24.0 percent), chemicals and related products n.e.s (3.6%), and miscellaneous manufactured articles (2.5%). Meanwhile, imports dropped 0.8 percent, as purchases shrank for mineral fuels, lubricants and related materials (-47.7%), machinery and transport equipment (-0.4%), and food and live animals (-1.8%), but were up for manufactured goods classified chiefly by material (4.5%), chemicals and related products n.e.s (4.7%), miscellaneous manufactured articles (3.9%), and crude materials, inedible, except fuels (3.9%)
2021-03-15
Norway Trade Surplus Largest in 13 Months
Norway’s trade surplus increased sharply to NOK 23.08 billion in January 2021 from NOK 14.95 billion in the same month a year earlier. This was the largest trade surplus since December 2019, as exports rose while imports plunged, amid an improving in global demand. Exports rose by 2.5 percent, due to higher sales of mineral fuels, lubricants & related materials (14.0%), chemicals and related products n.e.s (1.2%), and miscellaneous manufactured articles (2.0%). Meanwhile, imports slumped 10.1 percent, as purchases shrank for mineral fuels, lubricants and related materials (-54.2%), machinery and transport equipment (-14.6%), manufactured goods classified chiefly by material (-9.7%), chemicals and related products n.e.s (-3.3%), miscellaneous manufactured articles (-1.6%), crude materials, inedible, except fuels (-1.5%) but were up for food and live animals (4.4%).
2021-02-15
Norway Trade Surplus Narrows Sharply in December
Norway’s trade surplus declined sharply to NOK 12.1 billion in December 2020 from NOK 23.83 billion in the same month a year earlier, as exports slumped while imports rose. Exports tumbled 11 percent, due to lower sales of mineral fuels, lubricants & related materials (-19.1%), food and live animals (-3.9%) and machinery and transport equipment (-4.3%). Meanwhile, imports increased 3.8 percent, as purchases grew for food and live animals (12.4%), miscellaneous manufactured articles (12.5%), machinery and transport equipment (6.2%), manufactured goods classified chiefly by material (8.4%), chemicals and related products n.e.s (15.2%), crude materials, inedible, except fuels (6.9%) but were down for mineral fuels, lubricants and related materials (-56.6%). For 2020 full year, the trade surplus narrowed sharply to USD 10.40 billion from USD 156.75 billion in 2019, amid weakening global demand, due to the coronavirus pandemic.
2021-01-15

Norway Balance of Trade
The Norwegian trade balance has been in surplus since 1989. In 2019, the trade surplus narrowed sharply by 48.3 percent from the previous year to NOK 148 billion amid global trade tensions and weak external demand. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France, Belgium, Spain, Iceland, Portugal, Singapore and Ireland; and the largest deficits were recorded with China, the US, Sweden, Russia, Italy, Canada, Brazil, Poland, Czech Republic and Switzerland.