Norway Balance of Trade  1960-2016 | Data | Chart | Calendar | Forecast

Norway's trade surplus fell 49 percent to NOK 10.4 billion in October 2016 from NOK 20.15 billion a year earlier, marking it biggest trade surplus in three months. Year-on-year, exports dropped by 15.9 percent to NOK 62.07 billion, led by a 27 percent decline in sales of chemicals and related products. Sales also dropped for commodities and transaction (-58.6 percent). crude materials, inedible, except fuels (-14.7 percent), mineral fuels, lubricants (-21.4 percent), machinery and transport equipment (-19.0 percent) and miscellaneous manufactured articles (-19.0 percent), manufactured goods classified chiefly by material (-6.7 percent) animals and vegetable oil, fats and waxes (-5.5 percent), mineral fuels, lubricants and related materials (-21.4 percent). In contrast, sales of food and live animals rose (+15.2 percent) and beverages and tobacco (+7.5 percent). Imports fell 3.6 percent to NOK 51.71 billion. Balance of Trade in Norway averaged 8263.41 NOK Million from 1960 until 2016, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -5680.00 NOK Million in April of 1986.

Norway Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-09-15 08:00 AM Aug NOK 6.8B NOK 13.6B NOK 8.8B
2016-10-17 06:00 AM Sep NOK3.2B NOK 6.8B NOK 9.6B
2016-11-15 07:00 AM Oct NOK10.4B NOK 3.6B NOK 12.6B
2016-12-15 07:00 AM Nov NOK10.4B NOK 8.7B
2017-01-16 09:00 AM Dec
2017-02-15 09:00 AM Jan




Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 10360.56 3652.88 48677.18 -5680.00 NOK Million [+]
Exports 62068.54 57481.00 91186.74 449.00 NOK Million [+]
Imports 51707.98 54279.00 64327.68 696.00 NOK Million [+]
Current Account 24898.00 28496.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 9.00 12.00 17.80 -6.10 percent [+]
External Debt 0.00 0.00 70780.00 0.00 NOK Million [+]
Terms of Trade 104.77 102.26 115.90 75.84 Index Points [+]
Capital Flows 28191.00 155695.00 166636.00 -61109.00 NOK Million [+]
Gold Reserves 36.70 36.73 36.83 36.70 Tonnes [+]
Crude Oil Production 1603.00 1763.00 3417.00 2.00 BBL/D/1K [+]
Foreign Direct Investment 26658.00 66328.00 118173.00 -59079.00 NOK Million [+]
Terrorism Index 2.08 2.74 4.71 0.00 [+]
Weapons Sales 155.00 114.00 278.00 1.00 USD Million [+]



Norway Balance of Trade Notes

The trade surplus went down to NOK 233.7 billion in 2015 from NOK 347.7 billion in 2014, a decline of NOK 114 billion, as exports shrank 7 percent mainly due to a dramatic drop in oil exports of about 30 percent while imports expanded 10 percent. In parallel with the drop in oil price, the Norwegian krone weakened against major international currencies leading to a higher value of Norwegian exports, but at the same time made Norwegian imports more expensive. Norway exports natural gas, crude oil, machinery and transport equipment, manufactured goods and food. The country imports machinery and equipment, chemicals, metals, and foodstuffs. European Union is by far its largest trading partner (mainly UK, Germany and Sweden), accounting for about 80 percent of exports and 60 percent of imports. This page provides the latest reported value for - Norway Balance of Trade - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Norway Balance of Trade - actual data, historical chart and calendar of releases - was last updated on December of 2016.

Actual Previous Highest Lowest Dates Unit Frequency
10360.56 3652.88 48677.18 -5680.00 1960 - 2016 NOK Million Monthly
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