Norway recorded a trade surplus of NOK 44.8 billion in February 2026, narrowing from NOK 80.9 billion in the corresponding month of the previous year, as exports dropped while imports rose. Year-on-year, exports plunged by 20.9% to NOK 133.1 billion, mainly due to lower shipments of natural gas (-34.4%) and crude oil (-12.4%). Among commodity groups, exports of fuels, lubricating oils, electric power (-26.6%), animal and vegetable oils, fats and waxes (-6.3%), and machinery and means of transport (-31.5%) mostly declined. Meanwhile, imports rose by 1.2% to NOK 88.3 billion, largely driven by higher purchases of fuels, lubricating oils, electric power (21.7%), machinery and means of transport (9.1%), and chemical products (3.2%), while imports of ships and oil platforms dropped by 35.8%. For the first two months of the year, the country recorded a trade surplus of NOK 120.6 billion, down 30% from the same period last year, as exports (-16.7%) decreased more than imports (-3.4%). source: Statistics Norway

Norway recorded a trade surplus of 44800 NOK Million in February of 2026. Balance of Trade in Norway averaged 13731.36 NOK Million from 1960 until 2026, reaching an all time high of 230314.00 NOK Million in August of 2022 and a record low of -9403.00 NOK Million in June 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 March of 2026.

Norway recorded a trade surplus of 44800 NOK Million in February of 2026. Balance of Trade in Norway is expected to be 58805.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Balance of Trade is projected to trend around 84900.00 NOK Million in 2027 and 85100.00 NOK Million in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2026-02-16 07:00 AM
Balance of Trade
Jan NOK75.9B NOK42.9B NOK36.0B
2026-03-16 07:00 AM
Balance of Trade
Feb NOK44.8B NOK75.8B NOK65.4B
2026-04-15 06:00 AM
Balance of Trade
Mar NOK44.8B NOK 58.8B


Related Last Previous Unit Reference
Balance of Trade 44763.00 75800.00 NOK Million Feb 2026
Capital Flows 85412.00 168176.00 NOK Million Dec 2025
Current Account 153109.00 177426.00 NOK Million Dec 2025
Current Account to GDP 14.20 15.30 percent of GDP Dec 2025
Exports 133090.00 154466.00 NOK Million Feb 2026
External Debt 8606347.00 8082770.00 NOK Million Dec 2025
Foreign Direct Investment -25366.00 7702.00 NOK Million Dec 2025
Imports 88327.00 78555.00 NOK Million Feb 2026
Oil Exports 34438.00 40573.00 NOK Million Feb 2026
Terms of Trade 124.35 130.84 points Dec 2025


Norway Balance of Trade
The Norwegian trade balance has been in surplus since 1989 and hit NOK 531 billion in 2021, the highest trade surplus ever, mainly due to a much higher price growth on average of goods exported than those imported. Exports increased by 77% to NOK 1,377.8 billion, strongly driven by high prices for energy products, metals and fish. Export income from oil and gas accounted for more than 60% of all merchandise exports in 2021. Imports rose by NOK 82.1 billion from a year earlier to NOK 846.8 billion in 2021. Around a quarter of this increase is due to high imports of passenger cars, which increased by 36.5% and amounted to NOK 72.1 billion. The EU countries, Great Britain, China and the United States are the most important trading partners for Norway.
Actual Previous Highest Lowest Dates Unit Frequency
44763.00 75800.00 230314.00 -9403.00 1960 - 2026 NOK Million Monthly
Current Prices, NSA

News Stream
Norway Trade Surplus Narrows in February
Norway recorded a trade surplus of NOK 44.8 billion in February 2026, narrowing from NOK 80.9 billion in the corresponding month of the previous year, as exports dropped while imports rose. Year-on-year, exports plunged by 20.9% to NOK 133.1 billion, mainly due to lower shipments of natural gas (-34.4%) and crude oil (-12.4%). Among commodity groups, exports of fuels, lubricating oils, electric power (-26.6%), animal and vegetable oils, fats and waxes (-6.3%), and machinery and means of transport (-31.5%) mostly declined. Meanwhile, imports rose by 1.2% to NOK 88.3 billion, largely driven by higher purchases of fuels, lubricating oils, electric power (21.7%), machinery and means of transport (9.1%), and chemical products (3.2%), while imports of ships and oil platforms dropped by 35.8%. For the first two months of the year, the country recorded a trade surplus of NOK 120.6 billion, down 30% from the same period last year, as exports (-16.7%) decreased more than imports (-3.4%).
2026-03-16
Norway Trade Surplus Narrows in January
Norway's trade surplus narrowed to NOK 75.9 billion in January 2026 from NOK 91.5 billion in the corresponding month of the previous year, as exports fell much faster than imports. Exports declined by 12.6% year-on-year to NOK 154.5 billion, largely due to lower sales of fuels, lubricating oils, electric power (-18.5%). Shipments of processed goods grouped mainly by material (-12.0%) and chemical products (-10.5%) also decreased. Meanwhile, imports dropped by 8.0% to NOK 78.6 billion amid reduced purchases across most commodity groups, particularly machinery and transport equipment (-2.4%), different finished goods (-4.8%), and processed goods grouped mainly by material (-14.7%).
2026-02-16
Norway Trade Surplus Narrows in December
Norway's trade surplus narrowed to NOK 42.9 billion in December 2025 from NOK 78.5 billion in the same month last year, as exports declined and imports rose. Exports shrank by 17.8% year-on-year to NOK 138.7 billion, dragged mainly by lower sales of mineral fuels, lubricants and related materials (-26.8%). Exports of machinery and transport equipment (-3.2%) and manufactured goods classified chiefly by material (-0.6%) also dropped. Meanwhile, imports increased by 6.1% to NOK 95.8 billion, influenced by imports of machinery and transport equipment (10.9%), miscellaneous manufactured articles (4%), and manufactured goods classified chiefly by material (16.8%). For the full year of 2025, Norway recorded a trade surplus of NOK 662.8 billion, down from NOK 720.0 billion in 2024, with exports falling by 1.8% and imports rising by 2.2%.
2026-01-15