Norway Balance of Trade

Last Release

Jun 30, 2025

Actual

47,415

Units In

NOK Million

46,090

Frequency

Monthly

Next Release

Aug 15, 2025

Time to Release

1 Months 2 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	12,935.43 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 47.4 billion in June 2025 from NOK 66.6 billion in the corresponding month of the previous year, as exports dropped while imports increased. Exports declined by 9.5% year-on-year to NOK 139.4 billion, primarily due to lower sales of mineral fuels, lubricants and related materials (-13.9%) and machinery and transport equipment (-11.9%). Meanwhile, imports grew by 5.2% to NOK 92.0 billion, driven mainly by increased purchases of machinery and transport equipment (9%), manufactured goods classified chiefly by material (16.9%), and miscellaneous manufactured articles (6.4%). For the first half of the year, the country’s trade surplus totaled NOK 381.2 billion, marking a 5.9% rise compared to the same period last year.