Norway Balance of Trade  1960-2017 | Data | Chart | Calendar | Forecast

Norway's trade surplus rose sharply to NOK 12.43 billion in August 2017 from NOK 7.13 billion in the same month a year earlier. Exports jumped 8.8 percent year-on-year to NOK 65.29 billion, mainly driven by higher sales of natural gas condensates (137.9 percent), natural gas (31.5 percent) and mainland exports (10.2 percent), in particular fish (6.6 percent). Imports were unchanged at NOK 52.87 billion. Purchases increased for crude materials, inedible, except fuels (26.5 percent); mineral fuels, lubricants and related materials (18.6 percent); manufactured goods (5.9 percent); and chemicals (15.1 percent). On the other hand, imports dropped for ships and oil platforms (-99.5 percent), machinery and transport equipment (-11.6 percent) and food and live animals (-3.9 percent). So far this year, the trade surplus increased by 38.5 percent from the same period of 2016 to NOK 119.16 billion. Balance of Trade in Norway averaged 8377.01 NOK Million from 1960 until 2017, 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.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2017-07-14 06:00 AM Balance of Trade NOK-0.8B NOK6.9B NOK 6.9B
2017-08-15 06:00 AM Balance of Trade NOK14.32B NOK-0.8B NOK 5.1B
2017-09-15 06:00 AM Balance of Trade NOK12.4B NOK13.8B NOK 7.8B
2017-10-16 06:00 AM Balance of Trade NOK12.4B
2017-11-15 07:00 AM Balance of Trade
2017-12-15 07:00 AM Balance of Trade


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 12428.00 13810.44 48677.18 -5680.00 NOK Million [+]
Exports 65294.00 60650.42 91186.74 449.00 NOK Million [+]
Imports 52866.55 46839.98 67175.41 696.00 NOK Million [+]
Current Account 35817.00 41621.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 4.90 8.70 16.20 -6.10 percent [+]
External Debt 5307950.00 5388325.00 5388325.00 0.00 NOK Million [+]
Terms of Trade 106.98 108.68 115.90 75.84 Index Points [+]
Capital Flows 29843.00 127397.00 186517.00 -61109.00 NOK Million [+]
Gold Reserves 36.70 36.73 36.83 36.70 Tonnes [+]
Crude Oil Production 1651.00 1730.00 3417.00 2.00 BBL/D/1K [+]
Foreign Direct Investment -31842.00 -197185.00 118173.00 -197185.00 NOK Million [+]
Terrorism Index 2.08 2.74 4.71 0.00 [+]
Weapons Sales 150.00 240.00 278.00 1.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



Norway Balance of Trade

The trade surplus went down to NOK 233.7 billion in 2015 from NOK 347.7 billion in 2014, a decline of NOK 114 billion, as exports shrank 7 percent mainly due to a dramatic drop in oil exports of about 30 percent while imports expanded 10 percent. In parallel with the drop in oil price, the Norwegian krone weakened against major international currencies leading to a higher value of Norwegian exports, but at the same time made Norwegian imports more expensive. Norway exports natural gas, crude oil, machinery and transport equipment, manufactured goods and food. The country imports machinery and equipment, chemicals, metals, and foodstuffs. European Union is by far its largest trading partner (mainly UK, Germany and Sweden), accounting for about 80 percent of exports and 60 percent of imports. 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 September of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
12428.00 13810.44 48677.18 -5680.00 1960 - 2017 NOK Million Monthly
Current Prices, NSA




balance of trade by Country

Last
Australia 460.00 Jul/17
Brazil 5599.00 Aug/17
Canada -3040.40 Jul/17
China 419.92 Aug/17
Euro Area 23156.00 Jul/17
France -5968.00 Jul/17
Germany 19500.00 Jul/17
India -11643.96 Aug/17
Indonesia 1722.60 Aug/17
Italy 6560.39 Jul/17
Japan 113.64 Aug/17
Mexico -1522.60 Jul/17
Netherlands 4711.00 Jul/17
Russia 3970.00 Jul/17
South Korea 7013.00 Aug/17
Spain -1259000.00 Jun/17
Switzerland 2173.00 Aug/17
Turkey -8842.94 Jul/17
United Kingdom -2872.00 Jul/17
United States -43689.00 Jul/17