Norway posted a trade surplus of NOK 25 billion in June 2021, switching from a NOK 9.2 billion gap in the same month a year earlier. It was the largest trade surplus since January 2019, due to a jump in exports amid improving in global demand. Exports surged by 70.7 percent, due to higher sales of mineral fuels, lubricants & related materials (131.6%), chemicals and related products n.e.s (43.8%), manufactured goods classified chiefly by material (43.8%), food and live animals (8.0%), machinery and transport equipment (36.7%). Meanwhile, imports rose by 9.5 percent, as purchases grew for machinery and transport equipment (7.4%), miscellaneous manufactured articles (10.5%), crude materials, inedible, except fuels (47.2%), food and live animals (0.8%), and chemicals and related products n.e.s (16.1%). source: Statistics Norway
Balance of Trade in Norway averaged 8702.77 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 -9303 NOK Million in September 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 July 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.