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.