Norway Balance of Trade

Last Release

Aug 31, 2025

Actual

60,066

Units In

NOK Million

54,625

Frequency

Monthly

Next Release

Oct 15, 2025

Time to Release

28 Days 14 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	13,046.59 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 widened slightly to NOK 60.1 billion in August 2025 from NOK 59.2 billion in the corresponding month in the previous year, as exports fell less sharply than imports. Exports dropped by 5.2% year-on-year to NOK 143.4 billion, weighed down by lower sales of mineral fuels, lubricants and related materials (-16.6%) and food and live animals (-2.4%). The downturn was partly offset by a significant rise in machinery and transport equipment exports (+89.6%). Meanwhile, imports declined by 9.4% to NOK 83.3 billion, with decreases across most product categories, led by mineral fuels, lubricants and related materials (-48.3%), manufactured goods classified chiefly by material (-11.3%), and machinery and transport equipment (-3.6%). For the first eight months of the year, the country’s trade surplus totaled NOK 490.6 billion, up 2.6% from the same period a year ago.