Norway Balance of Trade

Last Release

Apr 30, 2025

Actual

55,873

Units In

NOK Million

59,359

Frequency

Monthly

Next Release

Jun 16, 2025

Time to Release

30 Days 5 Hours

Highest	Lowest	Average	Date Range	Source
197,858 Aug 2022	-9,303 Sep 2020	12,850.85 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 55.9 billion in April 2025 from NOK 61.7 billion in the corresponding month of the previous year, as exports dropped more than imports. Year-on-year, imports fell by 5.3% to NOK 90.3 billion, weighed down by lower purchases of fuels, lubricating oils, electric power (-49.1%), beverages and tobacco (-7.7%), and processed goods grouped mainly by material (-5.5%). Meanwhile, exports fell at a faster rate of 7.3% year-on-year to a seven-month low of NOK 146.2 billion, ahead of the implementation of US tariffs. The decline was mainly driven by reduced sales of beverages and tobacco (-16.1%), fuels, lubricating oils, and electric power (-13.5%), animal and vegetable oils, fats, and waxes (-13%), and non-edible raw materials excluding fuels (-10.5%). For the first four months of the year, the country’s trade surplus totaled NOK 292 billion, marking a 19.1% increase compared to the same period a year ago.