Norway’s trade balance swung to a surplus of NOK 42.6 billion in August 2021 from a deficit of NOK 3.6 billion in the same month a year earlier. It was the largest trade surplus since January 2014, due to a surge in exports amid improving in global demand. Exports jumped by 96.9 percent, due to higher sales of mineral fuels, lubricants & related materials (164.4%), chemicals and related products n.e.s (37.4%), manufactured goods classified chiefly by material (45.6%), food and live animals (31.3%), machinery and transport equipment (4.4%) and crude materials, inedible, except fuels (14.7%). Meanwhile, imports rose at a softer 17.3 percent, as purchases grew for machinery and transport equipment (13.3%), manufactured goods classified chiefly by material (20.5%), crude materials, inedible, except fuels (28.4%), food and live animals (12.9%), chemicals and related products n.e.s (37.5%) and miscellaneous manufactured articles (10.2%). source: Statistics Norway

Balance of Trade in Norway averaged 8790.78 NOK Million from 1960 until 2021, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -9303 NOK Million in September of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on September of 2021.

Balance of Trade in Norway is expected to be -8400.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Balance of Trade is projected to trend around 19300.00 NOK Million in 2022, according to our econometric models.

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Norway Balance of Trade

Actual Previous Highest Lowest Dates Unit Frequency
42576.00 42205.00 48677.18 -9303.00 1960 - 2021 NOK Million Monthly
Current Prices, NSA


Calendar GMT Actual Previous Consensus TEForecast
2021-06-15 06:00 AM May NOK15.5B NOK16.7B NOK14.5B
2021-07-09 06:00 AM Jun NOK25B NOK14.4B NOK17.0B
2021-08-16 06:00 AM Jul NOK42.2B NOK24.3B
2021-09-15 06:00 AM Aug NOK42.6B NOK42.2B NOK25.1B
2021-10-15 06:00 AM Sep NOK42.6B NOK -8.4B
2021-11-15 07:00 AM Oct
2021-12-15 07:00 AM Nov


News Stream
Norway Trade Surplus Largest Since 2014
Norway’s trade balance swung to a surplus of NOK 42.6 billion in August 2021 from a deficit of NOK 3.6 billion in the same month a year earlier. It was the largest trade surplus since January 2014, due to a surge in exports amid improving in global demand. Exports jumped by 96.9 percent, due to higher sales of mineral fuels, lubricants & related materials (164.4%), chemicals and related products n.e.s (37.4%), manufactured goods classified chiefly by material (45.6%), food and live animals (31.3%), machinery and transport equipment (4.4%) and crude materials, inedible, except fuels (14.7%). Meanwhile, imports rose at a softer 17.3 percent, as purchases grew for machinery and transport equipment (13.3%), manufactured goods classified chiefly by material (20.5%), crude materials, inedible, except fuels (28.4%), food and live animals (12.9%), chemicals and related products n.e.s (37.5%) and miscellaneous manufactured articles (10.2%).
2021-09-15
Norway July Trade Surplus Largest in 7-1/2 Years
Norway's trade surplus widened sharply to NOK 42.2 billion in July 2021 from NOK 0.8 billion in the same month a year earlier. It was the largest trade surplus since January 2014, due to a surge in exports amid improving in global demand. Exports jumped by 75.7 percent, due to higher sales of mineral fuels, lubricants & related materials (120.7%), chemicals and related products n.e.s (21.8%), manufactured goods classified chiefly by material (25.0%), food and live animals (21.4%), machinery and transport equipment (53.1%). Meanwhile, imports rose at a softer 8.0 percent, as purchases grew for machinery and transport equipment (1.7%), manufactured goods classified chiefly by material (11.0%), crude materials, inedible, except fuels (40.9%), food and live animals (0.2%), chemicals and related products n.e.s (11.6%) and miscellaneous manufactured articles (0.4%).
2021-08-16
Norway Trade Surplus Largest in Near 2-1/2 Years
Norway posted a trade surplus of NOK 25 billion in June 2021, switching from a NOK 9.2 billion gap in the same month a year earlier. It was the largest trade surplus since January 2019, due to a jump in exports amid improving in global demand. Exports surged by 70.7 percent, due to higher sales of mineral fuels, lubricants & related materials (131.6%), chemicals and related products n.e.s (43.8%), manufactured goods classified chiefly by material (43.8%), food and live animals (8.0%), machinery and transport equipment (36.7%). Meanwhile, imports rose by 9.5 percent, as purchases grew for machinery and transport equipment (7.4%), miscellaneous manufactured articles (10.5%), crude materials, inedible, except fuels (47.2%), food and live animals (0.8%), and chemicals and related products n.e.s (16.1%).
2021-07-09
Norway Trade Balance Swings to Surplus
Norway posted a trade surplus of NOK 15.5 billion in May 2021, shifting from NOK 6.0 billion gap in the same month a year earlier, as exports rose more than imports, amid an improving in global demand. Exports surged by 68.7 percent, due to higher sales of mineral fuels, lubricants & related materials (146.5%), chemicals and related products n.e.s (16.9%), manufactured goods classified chiefly by material (27.5%), food and live animals (4.9%), machinery and transport equipment (2.1%), and miscellaneous manufactured articles (14.3%). Meanwhile, imports rose by 24.4 percent, as purchases grew for mineral fuels, lubricants and related materials (80.1%), machinery and transport equipment (20.5%), miscellaneous manufactured articles (20.9%), crude materials, inedible, except fuels (8.0%), food and live animals (5.8%), and chemicals and related products n.e.s (14.4%).
2021-06-15

Norway Balance of Trade
The Norwegian trade balance has been in surplus since 1989. In 2019, the trade surplus narrowed sharply by 48.3 percent from the previous year to NOK 148 billion amid global trade tensions and weak external demand. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France, Belgium, Spain, Iceland, Portugal, Singapore and Ireland; and the largest deficits were recorded with China, the US, Sweden, Russia, Italy, Canada, Brazil, Poland, Czech Republic and Switzerland.