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%).

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%.

Norway's trade surplus narrowed to NOK 41.3 billion in November 2025 from NOK 68.8 billion in the corresponding month of the previous year, weighed down by a decline in exports. Exports dropped by 14.8% year-on-year to NOK 139.8 billion, primarily due to lower sales of mineral fuels, lubricants and related materials (-22%). Exports of food and live animals (-4.9%) and manufactured goods classified chiefly by material (-15.5%) also fell. Imports, on the other hand, rose by 3.3% to NOK 98.5 billion, driven mainly by increased purchases of machinery and transport equipment (3.6%), manufactured goods classified chiefly by material (3.3%), and chemicals and related products n.e.s. (5.9%). Over the January–November period, Norway recorded a trade surplus of NOK 619.9 billion, down 3.4% from the same period last year, as exports edged lower (-0.2%) while imports went up (1.8%).