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

Norway's trade surplus widened sharply to NOK 16.3 billion in May 2018 from NOK 9.1 billion in the same month a year earlier. Exports surged 15.9 percent to NOK 79.8 billion, mainly driven by mineral fuels, lubricants and related materials (24.6 percent), of which petroleum, petroleum products (28 percent) and gas (21 percent); machinery and transport equipment (18 percent); food and live animals (10 percent); and chemicals and related products (7.1 percent). Meantime, imports rose at a slower by 6.3 percent to NOK 63.5 billion, led by machinery and transport equipment (9.7 percent); crude materials, inedible, except fuels (23.2 percent); mineral fuels, lubricants and related materials (23.6 percent); food and live animals (2.9 percent); and chemicals and related products (1 percent). Considering the first five months of the year, the trade surplus narrowed 2 percent to NOK 98.1 billion from NOK 100.1 billion in the same period of 2017. Balance of Trade in Norway averaged 8461.52 NOK Million from 1960 until 2018, 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.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2018-04-16 06:00 AM Balance of Trade NOK15.0B NOK21.1B NOK 22.3B
2018-05-15 06:00 AM Balance of Trade NOK19.4B NOK13.8B NOK 25.1B
2018-06-15 06:00 AM Balance of Trade NOK16.3B NOK18.7B NOK 11.5B
2018-07-13 06:00 AM Balance of Trade NOK16.3B NOK 5.1B
2018-08-15 06:00 AM Balance of Trade NOK 16.2B
2018-09-17 06:00 AM Balance of Trade NOK 15.4B


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 16283.27 18671.19 48677.18 -6100.20 NOK Million [+]
Exports 79826.61 81492.49 91186.74 449.00 NOK Million [+]
Imports 63543.34 62821.30 84950.76 696.00 NOK Million [+]
Current Account 60999.00 40165.00 122200.00 -16087.00 NOK Million [+]
Current Account to GDP 5.10 3.80 16.20 -6.10 percent [+]
External Debt 5319100.00 5292384.00 5585278.00 0.00 NOK Million [+]
Terms of Trade 105.87 104.02 115.90 75.84 Index Points [+]
Capital Flows 62175.00 -16357.00 189108.00 -61109.00 NOK Million [+]
Crude Oil Production 1596.00 1652.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 0.00 0.00 4.71 0.00 [+]
Weapons Sales 134.00 150.00 278.00 1.00 USD Million [+]
Foreign Direct Investment -54502.00 7035.00 118173.00 -219889.00 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 June of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
16283.27 18671.19 48677.18 -6100.20 1960 - 2018 NOK Million Monthly
Current Prices, NSA




balance of trade by Country
Country Last
Australia 977.00 Apr/18
Brazil 5981.00 May/18
Canada -1902.20 Apr/18
China 249.22 May/18
Euro Area 16704.70 Apr/18
France -4954.00 Apr/18
Germany 20413.00 Apr/18
India -14620.00 May/18
Indonesia -1629.30 Apr/18
Italy 4531.06 Mar/18
Japan 625.98 Apr/18
Mexico -289.15 Apr/18
Netherlands 3841.00 Apr/18
Russia 15316.00 Apr/18
South Korea 6732.00 May/18
Spain -830631.00 Mar/18
Switzerland 2798.79 Apr/18
Turkey -6690.00 Apr/18
United Kingdom -5280.00 Apr/18
United States -46199.00 Apr/18


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