Norway Balance of Trade  1960-2018 | Data | Chart | Calendar | Forecast

Norway trade surplus increased to NOK 24.72 billion in December 2017 from NOK 22.93 billion in the same month a year earlier. It was the largest trade surplus since January, as exports rose more than imports. In December, exports grew by 6.4 percent year-on-year to NOK 76.81 billion, driven by natural gas (25.8 pct); natural gas condensates (33.8 pct) and mainland exports (9.4 pct). Meantime, imports went up 5.7 percent to NOK 52.10 billion, due to manufactured goods (11.4 pct); chemicals (22.1 percent), and machinery and transport equipment (6.4 percent). Considering full 2017, the trade surplus went up by 12.7 percent year-on-year to NOK 159.93 billion. Balance of Trade in Norway averaged 8385.94 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 -9138 NOK Million in November of 2017.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2017-11-15 07:00 AM Balance of Trade NOK15.1B NOK10.5B NOK 19.1B
2017-12-15 07:00 AM Balance of Trade NOK-4.2B NOK14.7B NOK12.9B
2018-01-15 07:00 AM Balance of Trade NOK24.7B NOK-9.14B NOK11.5B
2018-02-15 07:00 AM Balance of Trade NOK24.7B NOK 12B
2018-03-16 07:00 AM Balance of Trade NOK 11B
2018-04-16 06:00 AM Balance of Trade NOK 15.4B


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 24721.00 -9138.00 48677.18 -9138.00 NOK Million [+]
Exports 76812.00 75668.00 91186.74 449.00 NOK Million [+]
Imports 52091.00 84806.00 84806.00 696.00 NOK Million [+]
Current Account 17676.00 55024.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 4.90 8.70 16.20 -6.10 percent [+]
External Debt 5289054.00 5307950.00 5388325.00 0.00 NOK Million [+]
Terms of Trade 105.44 106.98 115.90 75.84 Index Points [+]
Capital Flows -43584.00 29843.00 186517.00 -61109.00 NOK Million [+]
Crude Oil Production 1460.00 1602.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.00 2.08 4.71 0.00 [+]
Weapons Sales 150.00 240.00 278.00 1.00 USD Million [+]
Foreign Direct Investment 10006.00 311.00 118173.00 -219366.00 NOK 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 January of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
24721.00 -9138.00 48677.18 -9138.00 1960 - 2017 NOK Million Monthly
Current Prices, NSA




balance of trade by Country
Country Last
Australia -628.00 Nov/17
Brazil 4997.77 Dec/17
Canada -2540.40 Nov/17
China 546.85 Dec/17
Euro Area 26272.60 Nov/17
France -5692.00 Nov/17
Germany 23700.00 Nov/17
India -14880.19 Dec/17
Indonesia -270.00 Dec/17
Italy 4829.68 Nov/17
Japan 113.36 Nov/17
Mexico 399.21 Nov/17
Netherlands 5157.00 Oct/17
Russia 11515.00 Nov/17
South Korea 5783.00 Dec/17
Spain -2511365.00 Oct/17
Switzerland 2633.00 Nov/17
Turkey -6320.40 Nov/17
United Kingdom -2804.00 Nov/17
United States -50497.00 Nov/17


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