Norway Balance of Trade  1960-2017 | Data | Chart | Calendar | Forecast

Norway's trade surplus fell slightly to NOK 15.13 billion in October 2017 from NOK 16.17 billion in the same month a year earlier. Exports grew by 3.5 percent year-on-year to NOK 71.27 billion, mainly supported by natural gas (11.0 percent) and mainland exports (21.6 percent). Imports increased by 6.5 percent to NOK 54.14 billion. Purchases went up for: crude materials, inedible, except fuels (12.6 percent); mineral fuels, lubricants and related materials (22.6 percent); manufactured goods (10.6 percent) and chemicals (9.5 percent). On the other hand, imports dropped for ships and oil platforms (-85.6 percent) and machinery and transport equipment (-0.1 percent). Considering January to October 2017, the trade surplus went up by 40.5 percent from the same period of 2016 to NOK 148.09 billion. Balance of Trade in Norway averaged 8394.46 NOK Million from 1960 until 2017, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -5680 NOK Million in April of 1986.

Norway Balance of Trade
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Calendar GMT Actual Previous Consensus TEForecast
2017-09-15 06:00 AM Balance of Trade NOK12.4B NOK13.8B NOK 7.8B
2017-10-16 06:00 AM Balance of Trade NOK9.2B NOK11.06B NOK 9.1B
2017-11-15 07:00 AM Balance of Trade NOK15.1B NOK10.5B NOK 19.1B
2017-12-15 07:00 AM Balance of Trade NOK15.1B


Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 15129.00 10496.00 48677.18 -5680.00 NOK Million [+]
Exports 71273.00 65189.00 91186.74 449.00 NOK Million [+]
Imports 56145.00 54693.00 67377.00 696.00 NOK Million [+]
Current Account 35817.00 41621.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 4.90 8.70 16.20 -6.10 percent [+]
External Debt 5307950.00 5388325.00 5388325.00 0.00 NOK Million [+]
Terms of Trade 105.44 106.98 115.90 75.84 Index Points [+]
Capital Flows 29843.00 127397.00 186517.00 -61109.00 NOK Million [+]
Crude Oil Production 1614.00 1600.00 3417.00 2.00 BBL/D/1K [+]
Terrorism Index 2.08 2.74 4.71 0.00 [+]
Weapons Sales 150.00 240.00 278.00 1.00 USD Million [+]
Foreign Direct Investment -31842.00 -197185.00 118173.00 -197185.00 NOK Million [+]

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



Norway Balance of Trade

The trade surplus went down to NOK 233.7 billion in 2015 from NOK 347.7 billion in 2014, a decline of NOK 114 billion, as exports shrank 7 percent mainly due to a dramatic drop in oil exports of about 30 percent while imports expanded 10 percent. In parallel with the drop in oil price, the Norwegian krone weakened against major international currencies leading to a higher value of Norwegian exports, but at the same time made Norwegian imports more expensive. Norway exports natural gas, crude oil, machinery and transport equipment, manufactured goods and food. The country imports machinery and equipment, chemicals, metals, and foodstuffs. European Union is by far its largest trading partner (mainly UK, Germany and Sweden), accounting for about 80 percent of exports and 60 percent of imports. 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 November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
15129.00 10496.00 48677.18 -5680.00 1960 - 2017 NOK Million Monthly
Current Prices, NSA




balance of trade by Country
Country Last
Australia 1745.00 Sep/17
Brazil 5201.00 Oct/17
Canada -3179.70 Sep/17
China 381.74 Oct/17
Euro Area 26364.90 Sep/17
France -4669.00 Sep/17
Germany 24100.00 Sep/17
India -14018.80 Oct/17
Indonesia 895.00 Oct/17
Italy 3989.78 Sep/17
Japan 285.36 Oct/17
Mexico -1886.40 Sep/17
Netherlands 6258.00 Sep/17
Russia 10222.00 Sep/17
South Korea 7300.00 Oct/17
Spain -3226685.00 Aug/17
Switzerland 2917.62 Sep/17
Turkey -8134.57 Sep/17
United Kingdom -2754.00 Sep/17
United States -43495.00 Sep/17