Norway's trade surplus jumped to a fresh record high of NOK 84.5 billion in October 2021 from NOK 5.26 billion in the same month a year earlier, boosted by a sharp jump in exports. Sales climbed 114.8% yoy to a new peak of NOK 156.8 billion, amid higher shipments of mineral fuels, lubricants & related materials (207.1%), food and live animals (14.9%), manufactured goods (63.0%), chemicals, and related products n.e.s (13.4%), and crude materials, inedible, except fuels (21.0%). Meanwhile, imports rose at a much softer 6.8% to NOK 72.3 billion, with arrivals growing for miscellaneous manufactured articles (1.3%), manufactured goods (3.1%), crude materials, inedible, except fuels (5.7%), food and live animals (17.1%), and chemicals and related products n.e.s (29.6%). Considering January to October, the country's trade surplus was at NOK 348.6 billion. source: Statistics Norway
Balance of Trade in Norway averaged 8851.02 NOK Million from 1960 until 2021, reaching an all time high of 53700 NOK Million in September of 2021 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 December of 2021.
Balance of Trade in Norway is expected to be 18200.00 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 19300.00 NOK Million in 2022, according to our econometric models.