Norway Balance of Trade

Last Release

Sep 30, 2025

Actual

36,875

Units In

NOK Million

59,900

Frequency

Monthly

Next Release

Nov 17, 2025

Time to Release

1 Months 0 Days 7 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	13,076.58 NOK Million	1960-2025	Statistics Norway

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.

Latest Updates

Norway's trade surplus narrowed to NOK 36.9 billion in September 2025 from NOK 37.8 billion in the same month of the previous year, marking the smallest surplus since June 2021. Imports grew by 1.8% year-on-year to NOK 94.9 billion, primarily driven by higher purchases of raw materials excluding fuel (17.7%), processed goods mainly grouped by material (13.4%), and beverages and tobacco (11.7%). Meanwhile, exports increased at a softer pace of 0.6% year-on-year to NOK 131.8 billion, mainly due to higher sales of animal and vegetable oils, fats, and waxes (24%), various finished goods (21.1%), and machinery and transport equipment (9.8%). However, sales of raw materials excluding fuel (-4.5%) and fuels, lubricating oils, and electric power (-4.1%) declined. For the first nine months of the year, Norway’s trade surplus reached NOK 527.6 billion, representing a 2.2% increase compared to the same period in the previous year.