Norway Balance of Trade

Last Release

Mar 31, 2025

Actual

60,225

Units In

NOK Million

84,589

Frequency

Monthly

Next Release

May 15, 2025

Time to Release

28 Days 8 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	12,797.01 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 60.2 billion in March 2025 from NOK 65.3 billion in the same month last year, as double-digit growth in imports outpaced the rise in exports. Imports surged 20.3% year-on-year to NOK 94.8 billion, driven primarily by increased purchases of machinery and transport equipment (20.9%), manufactured goods classified chiefly by material (27.9%), and miscellaneous manufactured articles (23.2%). Meanwhile, exports rose 7.6% to NOK 155.1 billion, mainly due to higher sales of mineral fuels, lubricants and related materials (3.8%) and food and live animals (9.6%). For the first three months of the year, the country’s trade surplus totaled NOK 238.9 billion, marking a 29.4% increase compared to the same period a year ago.