Norway Trade Surplus Expands in May

Norway’s trade surplus widened to NOK 61.9 billion in June 2026 from NOK 46.9 billion in the same month a year earlier, as exports outpaced imports. Exports jumped 12.5% year-on-year to NOK 158.3 billion, lifted by higher shipments of fuels, lubricants, and related materials (+24.8%), raw materials, excluding fuels (+17.3%), animal and vegetable oils, fats, and waxes (+48.7%), and food and live animals (+7.1%). These gains more than offset declines in exports of beverages and tobacco (-14.6%), chemical products (-0.2%), and machinery and means of transport (-23.1%). Meanwhile, imports rose 2.7% to NOK 96.4 billion, driven largely by increased purchases of raw materials, excluding fuels (+20.9%), fuels, lubricants, and related materials (+53.9%), and animal and vegetable oils, fats and waxes (+8.4%). For the January–June period, Norway recorded a trade surplus of NOK 419.9 billion, up 11.3% from the corresponding month a year ago, as exports (5.7%) rose much faster than imports (1.8%).

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%).