Norway Balance of Trade  1960-2017 | Data | Chart | Calendar | Forecast

Norway recorded a trade surplus of 23.05 NOK billion in January of 2017, an increase of 48.1 percent from the same month a year earlier. It was the largest trade surplus since July 2015, as exports rose more than imports. Year-on-year, sales grew by 21.9 percent to 73.82 NOK billion, driven by crude oil (81.8 percent), ships and oil platforms (54.9 percent) and natural gas (16.5 percent). Imports went up 11.7 percent to 48.77 NOK billion, mainly due to a 140.2 percent rise in purchases of ships and & oil platforms. Balance of Trade in Norway averaged 8323.87 NOK Million from 1960 until 2017, reaching an all time high of 48677.18 NOK Million in January of 2014 and a record low of -5680 NOK Million in April of 1986.

Norway Balance of Trade
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Calendar GMT Reference Actual Previous Consensus Forecast (i)
2016-12-15 07:00 AM Nov NOK15.1B NOK10.4B NOK 8.7B
2017-01-16 07:00 AM Dec NOK 23.3 NOK 15.8B NOK 12.9B
2017-02-15 07:00 AM Jan NOK25.0B NOK 23.3B NOK 21.6B
2017-03-15 07:00 AM Feb NOK25.0B
2017-04-21 06:00 AM Mar
2017-05-15 06:00 AM Apr




Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 25045.75 23345.26 48677.18 -5680.00 NOK Million [+]
Exports 73816.45 72519.93 91186.74 449.00 NOK Million [+]
Imports 48770.69 49174.67 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 105.95 104.77 115.90 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 1766.00 1430.00 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 February of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
25045.75 23345.26 48677.18 -5680.00 1960 - 2017 NOK Million Monthly
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