Norway Balance of Trade

Last Release

May 31, 2025

Actual

46,117

Units In

NOK Million

54,552

Frequency

Monthly

Next Release

Jul 11, 2025

Time to Release

23 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	12,891.54 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 46.1 billion in May 2025 from NOK 52.3 billion in the same month last year, as exports declined more than imports. Exports dropped by 7.4% year-on-year to NOK 138.2 billion, dragged mainly by lower sales of mineral fuels, lubricants and related materials (-10.9%), food and live animals (-1.8%), and manufactured goods classified chiefly by material (-9.3%). Meanwhile, imports fell by 5% to NOK 92.1 billion, largely due to reduced purchases of manufactured goods classified chiefly by material (-13.6%) and chemicals and related products n.e.s. (-1.4%). For the first five months of the year, the country’s trade surplus totaled NOK 333.8 billion, marking a 13.8% growth compared to the corresponding period a year ago.