Norway's trade surplus narrowed sharply to NOK 13.9 billion in March 2019 from NOK 17.9 billion in the same month of the previous year. It was the smallest trade surplus since November 2017, when the trade balance posted a deficit of NOK 6.1 billion. Exports fell 3.2 percent to NOK 79.7 billion, mainly dragged by mineral fuels, lubricants and related materials (-11.3 percent) and manufactured goods (-1.9 percent). By contrast, exports of machinery and transport equipment jumped 29.7 percent while those of food and live animals increased 3.5 percent. Meanwhile, imports rose 2.2 percent to NOK 65.8 billion, boosted by purchases of miscellaneous manufactures articles (17.6 percent); food and live animals (8.6 percent); chemicals and related products, n.e.s (13 percent); and machinery and transport equipment (16.9 percent). Considering the first quarter of the year, the trade surplus narrowed 21.5 percent year-on-year to NOK 57.5 billion. Balance of Trade in Norway averaged 8692.09 NOK Million from 1960 until 2019, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -6100.20 NOK Million in November of 2017.

Balance of Trade in Norway is expected to be 13300.00 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 17800.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 17200.00 NOK Million in 2020, according to our econometric models.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2019-01-15 07:00 AM Balance of Trade NOK25.0B NOK25.7B NOK 27.8B
2019-02-15 07:00 AM Balance of Trade NOK28.8B NOK25B NOK28.7B
2019-03-15 07:00 AM Balance of Trade NOK15.8B NOK28.8B NOK22.5B
2019-04-15 06:00 AM Balance of Trade NOK13.9B NOK15.2B NOK18.4B
2019-05-15 06:00 AM Balance of Trade NOK13.9B NOK15.1B
2019-06-14 06:00 AM Balance of Trade NOK12.5B
2019-07-12 06:00 AM Balance of Trade NOK13.3B


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 13869.80 15207.02 48677.18 -6100.20 NOK Million [+]
Current Account 46795.00 91355.00 122200.00 -16087.00 NOK Million [+]
Current Account to GDP 8.10 5.70 16.20 -6.10 percent [+]
Imports 65796.78 62053.48 84950.76 696.00 NOK Million [+]
Exports 79666.58 77260.50 99710.44 449.00 NOK Million [+]
External Debt 5425403.00 5235309.00 5585278.00 0.00 NOK Million [+]
Terms of Trade 105.38 108.23 115.90 75.84 Index Points [+]
Capital Flows 54753.00 53275.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1535.00 1525.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.15 0.00 4.71 0.00 [+]
Weapons Sales 134.00 150.00 278.00 1.00 USD Million [+]
Foreign Direct Investment -40950.00 -4796.00 118173.00 -219186.00 NOK Million [+]

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



Norway Balance of Trade

The Norwegian trade balance has been in surplus since 1989. In 2017, the trade surplus widened by 13 percent from the previous year to NOK 160 billion amid a recovery in oil prices, after falling by 35 percent in 2016. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France and Belgium; and the largest deficits were recorded with China, South Korea, Sweden, Russia and Italy. 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 April of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
13869.80 15207.02 48677.18 -6100.20 1960 - 2019 NOK Million Monthly
Current Prices, NSA




Country Last Previous
Argentina 460.00 Feb/19
Australia 4801.00 Feb/19
Brazil 4990.00 Mar/19
Canada -2894.80 Feb/19
China 326.47 Mar/19
Euro Area 17938.00 Feb/19
France -4002.00 Feb/19
Germany 17900.00 Feb/19
India -10890.00 Mar/19
Indonesia 540.20 Mar/19
Italy 3267.83 Feb/19
Japan 528.50 Mar/19
Mexico 1222.00 Feb/19
Netherlands 5130.00 Feb/19
Russia 15671.00 Feb/19
Saudi Arabia 180059.00 Dec/18
Singapore 3615.50 Mar/19
South Africa 3990.00 Feb/19
South Korea 5222.00 Mar/19
Spain -4483276.00 Jan/19
Switzerland 2494.00 Mar/19
Turkey -2134.33 Feb/19
United Kingdom -4860.00 Feb/19
United States -49382.00 Feb/19


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