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

Norway's trade surplus jumped 99.3 percent to NOK 22.25 billion in April of 2017 from NOK 11.15 billion in the same month a year earlier. Exports rose 7.5 percent to NOK 66.16 billion, driven by crude oil (30.3 percent), natural gas (11.5 percent) and natural gas condensates (37.4 percent). Meanwhile, imports fell 12.8 percent to NOK 43.91 billion, as purchases of ships and oil platforms dropped by 97.4 percent. Also, those of excluding ships and oil platforms decreased by 11.7 percent, mainly due to a 16.3 percent fall in food and live animals, a 7.0 percent drop in beverages and tobacco, a 3.2 percent fall in crude materials, inedible, except fuels, a 7.5 percent decline of chemicals and related materials and a 15.6 percent fall of machinery and transport equipment. Balance of Trade in Norway averaged 8387.23 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 Reference Actual Previous Consensus Forecast (i)
2017-03-16 07:00 AM Feb NOK23.5B NOK 26.7B NOK 19.1B
2017-04-21 06:00 AM Mar NOK22.7B NOK23.2B NOK 19.5B
2017-05-15 06:00 AM Apr NOK22.2B NOK22.7B NOK 21.5B
2017-06-15 06:00 AM May NOK22.2B
2017-07-14 06:00 AM Jun
2017-08-15 06:00 AM Jul




Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 22249.00 22719.43 48677.18 -5680.00 NOK Million [+]
Exports 66159.00 79706.77 91186.74 449.00 NOK Million [+]
Imports 43911.00 56987.34 64327.68 696.00 NOK Million [+]
Current Account 59304.00 19019.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 9.00 12.00 17.80 -6.10 percent [+]
External Debt 5247666.00 0.00 5247666.00 0.00 NOK Million [+]
Terms of Trade 108.68 105.95 115.90 75.84 Index Points [+]
Capital Flows 35688.00 15501.00 189363.00 -61109.00 NOK Million [+]
Gold Reserves 36.70 36.73 36.83 36.70 Tonnes [+]
Crude Oil Production 1710.00 1660.00 3417.00 2.00 BBL/D/1K [+]
Foreign Direct Investment -189382.00 -27417.00 118173.00 -189382.00 NOK Million [+]
Terrorism Index 2.08 2.74 4.71 0.00 [+]
Weapons Sales 150.00 240.00 278.00 1.00 USD Million [+]

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



Norway Balance of Trade Notes

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 May of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
22249.00 22719.43 48677.18 -5680.00 1960 - 2017 NOK Million Monthly
Current Prices, NSA



balance of trade by Country

Last
Australia 3107.00 Mar/17
Brazil 6969.00 Apr/17
Canada -134.70 Mar/17
China 380.48 Apr/17
Euro Area 30899.90 Mar/17
France -5353.00 Mar/17
Germany 25385.00 Mar/17
India -13249.19 Apr/17
Indonesia 1238.30 Apr/17
Italy 5418.04 Mar/17
Japan 481.75 Apr/17
Mexico 616.79 Apr/17
Netherlands 6719.00 Mar/17
Russia 12598.00 Mar/17
South Korea 13254.00 Apr/17
Spain -1458000.00 Mar/17
Switzerland 1968.25 Apr/17
Turkey -4492.00 Mar/17
United Kingdom -4900.00 Mar/17
United States -43706.00 Mar/17