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

Norway's trade surplus jumped 101.4 percent to NOK 22.72 billion in March 2017 from NOK 11.28 billion in the same month a year earlier. Exports jumped 29 percent to NOK 79.71 billion, driven by ships and oil platforms (1,820.6 percent), crude oil (50.7 percent), natural gas (29.3 percent) and natural gas condensates (26.9 percent). Meanwhile, imports went up at a slower 12.8 percent to NOK 56.99 billion, as purchases rose the most for: Mineral fuels, lubricants and related materials (70.8 percent); chemicals (27.4 percent); crude materials (23.2 percent); and machinery and transport equipment (11.9 percent). In contrast, purchases fell for ships and oil platforms (-26.1 percent). In the first quarter of the year, the trade surplus rose to NOK 71.36 billion from NOK 39.05 billion in the same period of 2016. Balance of Trade in Norway averaged 8367.06 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)
2017-02-15 07:00 AM Jan NOK25.0B NOK 23.3B NOK 21.6B
2017-03-16 07:00 AM Feb NOK23.5B NOK 26.7B NOK 19.1B
2017-04-21 06:00 AM Mar NOK22.7B NOK23.2B NOK 19.5B
2017-05-15 06:00 AM Apr NOK22.7B
2017-06-15 06:00 AM May
2017-07-14 06:00 AM Jun




Norway Trade Last Previous Highest Lowest Unit
Balance of Trade 22719.43 23258.76 48677.18 -5680.00 NOK Million [+]
Exports 79706.77 72144.38 91186.74 449.00 NOK Million [+]
Imports 56987.34 48885.62 64327.68 696.00 NOK Million [+]
Current Account 59304.00 19019.00 122316.00 -16087.00 NOK Million [+]
Current Account to GDP 9.00 12.00 17.80 -6.10 percent [+]
External Debt 5247666.00 0.00 5247666.00 0.00 NOK Million [+]
Terms of Trade 105.95 104.77 115.90 75.84 Index Points [+]
Capital Flows 35688.00 15501.00 189363.00 -61109.00 NOK Million [+]
Gold Reserves 36.70 36.73 36.83 36.70 Tonnes [+]
Crude Oil Production 1706.00 1784.00 3417.00 2.00 BBL/D/1K [+]
Foreign Direct Investment -189382.00 -27417.00 118173.00 -189382.00 NOK Million [+]
Terrorism Index 2.08 2.74 4.71 0.00 [+]
Weapons Sales 155.00 114.00 278.00 1.00 USD Million [+]

Exports by Country  |   Exports by Category  |   Imports by Country  |   Imports by Category



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 April of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
22719.43 23258.76 48677.18 -5680.00 1960 - 2017 NOK Million Monthly
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