Norway posted a trade surplus of NOK 25 billion in June 2021, switching from a NOK 9.2 billion gap in the same month a year earlier. It was the largest trade surplus since January 2019, due to a jump in exports amid improving in global demand. Exports surged by 70.7 percent, due to higher sales of mineral fuels, lubricants & related materials (131.6%), chemicals and related products n.e.s (43.8%), manufactured goods classified chiefly by material (43.8%), food and live animals (8.0%), machinery and transport equipment (36.7%). Meanwhile, imports rose by 9.5 percent, as purchases grew for machinery and transport equipment (7.4%), miscellaneous manufactured articles (10.5%), crude materials, inedible, except fuels (47.2%), food and live animals (0.8%), and chemicals and related products n.e.s (16.1%). source: Statistics Norway

Balance of Trade in Norway averaged 8702.77 NOK Million from 1960 until 2021, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -9303 NOK Million in September 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 July of 2021.

Balance of Trade in Norway is expected to be 10200.00 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 17200.00 in 12 months time. In the long-term, the Norway Balance of Trade is projected to trend around 17200.00 NOK Million in 2022 and 22200.00 NOK Million in 2023, according to our econometric models.

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Norway Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
25023.00 14354.00 48677.18 -9303.00 1960 - 2021 NOK Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-04-15 06:00 AM Mar NOK25.4B NOK23.6B NOK20B
2021-05-18 06:00 AM Apr NOK17B NOK25.0B NOK22.3B
2021-06-15 06:00 AM May NOK15.5B NOK16.7B NOK14.5B
2021-07-09 06:00 AM Jun NOK25B NOK14.4B NOK17.0B
2021-08-16 06:00 AM Jul NOK25B
2021-09-15 06:00 AM Aug
2021-10-15 06:00 AM Sep
2021-11-15 07:00 AM Oct


News Stream
Norway Trade Surplus Largest in Near 2-1/2 Years
Norway posted a trade surplus of NOK 25 billion in June 2021, switching from a NOK 9.2 billion gap in the same month a year earlier. It was the largest trade surplus since January 2019, due to a jump in exports amid improving in global demand. Exports surged by 70.7 percent, due to higher sales of mineral fuels, lubricants & related materials (131.6%), chemicals and related products n.e.s (43.8%), manufactured goods classified chiefly by material (43.8%), food and live animals (8.0%), machinery and transport equipment (36.7%). Meanwhile, imports rose by 9.5 percent, as purchases grew for machinery and transport equipment (7.4%), miscellaneous manufactured articles (10.5%), crude materials, inedible, except fuels (47.2%), food and live animals (0.8%), and chemicals and related products n.e.s (16.1%).
2021-07-09
Norway Trade Balance Swings to Surplus
Norway posted a trade surplus of NOK 15.5 billion in May 2021, shifting from NOK 6.0 billion gap in the same month a year earlier, as exports rose more than imports, amid an improving in global demand. Exports surged by 68.7 percent, due to higher sales of mineral fuels, lubricants & related materials (146.5%), chemicals and related products n.e.s (16.9%), manufactured goods classified chiefly by material (27.5%), food and live animals (4.9%), machinery and transport equipment (2.1%), and miscellaneous manufactured articles (14.3%). Meanwhile, imports rose by 24.4 percent, as purchases grew for mineral fuels, lubricants and related materials (80.1%), machinery and transport equipment (20.5%), miscellaneous manufactured articles (20.9%), crude materials, inedible, except fuels (8.0%), food and live animals (5.8%), and chemicals and related products n.e.s (14.4%).
2021-06-15
Norway Trade Balance Swings to Surplus
Norway posted a trade surplus of NOK 17 billion in April 2021, shifting from NOK 3.9 billion gap in the same month a year earlier, as exports rose more than imports, amid an improving in global demand. Exports surged by 59.0 percent, due to higher sales of mineral fuels, lubricants & related materials (150.5%), chemicals and related products n.e.s (0.9%), food and live animals (4.6%), machinery and transport equipment (0.3%), and miscellaneous manufactured articles (33.4%). Meanwhile, imports rose by 17.3 percent, as purchases grew for mineral fuels, lubricants and related materials (28.8%), machinery and transport equipment (31.7%), miscellaneous manufactured articles (40.7%), manufactured goods classified chiefly by material (1.4%), and crude materials, inedible, except fuels (3.4%), but were down for food and live animals (-2.7%), chemicals and related products n.e.s (-0.8%).
2021-05-18
Norway Posts Biggest Trade Surplus Since 2019
Norway posted a trade surplus of NOK 25.4 billion in March 2021, shifting from NOK 1.7 billion gap in the same month a year earlier. This was the largest trade surplus since January 2019, as exports rose more than imports, amid an improving in global demand. Exports surged by 45.7 percent, due to higher sales of mineral fuels, lubricants & related materials (95.6%), manufactured goods classified chiefly by material (18.8 percent), chemicals and related products n.e.s (5.3%), food and live animals (12.8%), and miscellaneous manufactured articles (44.2%). Meanwhile, imports rose by 5.2 percent, as purchases grew for mineral fuels, lubricants and related materials (4.3%), machinery and transport equipment (6.3%), chemicals and related products n.e.s (9.4%), miscellaneous manufactured articles (17.6%), and crude materials, inedible, except fuels (13.7%), but were down for food and live animals (-6.6%), manufactured goods classified chiefly by material (-14.0%).
2021-04-15

Norway Balance of Trade
The Norwegian trade balance has been in surplus since 1989. In 2019, the trade surplus narrowed sharply by 48.3 percent from the previous year to NOK 148 billion amid global trade tensions and weak external demand. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France, Belgium, Spain, Iceland, Portugal, Singapore and Ireland; and the largest deficits were recorded with China, the US, Sweden, Russia, Italy, Canada, Brazil, Poland, Czech Republic and Switzerland.