Overview In October 2021 Norway exported NOK157B and imported NOK72.3B, resulting in a positive trade balance of NOK84.5B. Between October 2020 and October 2021 the exports of Norway have increased by NOK83.8B (115%) from NOK73B to NOK157B, while imports increased by NOK4.59B (6.78%) from NOK67.7B to NOK72.3B.
Trade In October 2021, the top exports of Norway were Gas, natural and manufactured (NOK74B), Petroleum, petroleum products and related materials (NOK38.9B), Fish (not marine mammals), crustaceans, molluscs... (NOK11.7B), Non-ferrous metals (NOK8.27B), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK1.88B). In October 2021 the top imports of Norway were Road vehicles (including air-cushion vehicles) (NOK8.45B), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK4.53B), Miscellaneous manufactured articles, n.e.s. (NOK3.53B), General industrial machinery and equipment, n.e.s.,... (NOK3.46B), and Manufactures of metals, n.e.s. (NOK3.02B).
Destinations In October 2021, Norway exported mostly to Germany (NOK37.5B), United Kingdom (NOK34.5B), France (NOK13.3B), Netherlands (NOK10.3B), and Belgium (NOK10.2B), and imported mostly from China (NOK10.2B), Sweden (NOK8.82B), Germany (NOK7.99B), Denmark (NOK3.74B), and United Kingdom (NOK3.46B).
Growth In October 2021, the increase in Norway's year-by-year exports was explained primarily by an increase in exports to Germany (NOK28.8B or 331%), United Kingdom (NOK20.7B or 149%), and France (NOK9.21B or 227%), and product exports increase in Gas, natural and manufactured (NOK59.2B or 397%), Petroleum, petroleum products and related materials (NOK17.1B or 78.2%), and Non-ferrous metals (NOK4.13B or 99.7%). In October 2021, the increase in Norway's year-by-year imports was explained primarily by an increase in imports from China (NOK1.96B or 23.7%), Sweden (NOK1.27B or 16.8%), and Russia (NOK1.18B or 101%), and product imports increase in Road vehicles (including air-cushion vehicles) (NOK816M or 10.7%), Chemical materials and products, n.e.s. (NOK757M or 64.9%), and Fixed vegetable fats and oils, crude,... (NOK652M or 155%).