Norway Trade Surplus Widens in April

Norway’s trade surplus widened to NOK 62.6 billion in May 2026 from NOK 44.1 billion in the corresponding month a year ago, as exports rose much faster than imports. Exports grew 15.2% year-on-year to NOK 158.1 billion, led by a sharp rise in shipments of mineral fuels, lubricants, and related materials (25.7%), followed by manufactured goods classified chiefly by material (11.2%). These gains more than offset declines in exports of food and live animals (-3.3%) and machinery and transport equipment (-10.6%). Meanwhile, imports went up 2.6% to NOK 95.5 billion, mainly due to increased imports of machinery and transport equipment (9.6%), chemicals and related products n.e.s. (6.4%), and mineral fuels, lubricants and related materials (12.8%). For the January–May period, Norway recorded a trade surplus of NOK 357.5 billion, up 8.5% from the same period last year, as exports rose 4.5%, outpacing the 1.6% increase in imports.

Norway recorded a trade surplus of NOK 84.2 billion in April 2026, expanding from NOK 53.2 billion in the same month last year, driven by strong export growth. Exports jumped 20.9% year-on-year to NOK 176.7 billion, largely due to a sharp increase in shipments of mineral fuels, lubricants, and related materials (40.7%). Meanwhile, imports decreased by 0.4% to NOK 92.5 billion amid declines in most product groups, particularly miscellaneous manufactured articles (-2.0%), manufactured goods classified chiefly by material (-10.2%), and chemicals and related products n.e.s. (-0.2%), which offset a rise in machinery and transport equipment imports (2.3%). For the January–April period, the country posted a trade surplus of NOK 299.4 billion, up 4.9% from the corresponding period a year earlier, as exports (2.6%) grew faster than imports (0.9%).

Norway’s trade surplus widened to NOK 97.5 billion in March 2026 from NOK 58.9 billion in the same month a year ago. This marked the largest trade surplus since January 2023, as exports rose much faster than imports. Exports surged by 28.5% year-on-year to NOK 199.9 billion, driven mainly by a 33.7% jump in shipments of mineral fuels, lubricants, and related materials. Exports of machinery and transport equipment (54.4%), food and live animals (3.1%), and manufactured goods classified chiefly by material (7.5%) also went up. Meanwhile, imports grew by 5.9% to NOK 102.5 billion, largely due to increased purchases of machinery and transport equipment (14.7%), miscellaneous manufactured articles (5.8%), and chemicals and related products n.e.s. (12.8%). For the first quarter of the year, the country recorded a trade surplus of NOK 218.2 billion, down 5.6% from the same period last year, with exports (-2.6%) falling more than imports (-0.1%).