Norway's trade surplus narrowed to NOK 82 billion October 2022 from NOK 84.4 billion in the corresponding month of the previous year, and the smallest since November 2021. Imports rose by 25.2% year-on-year to NOK 91.2 billion, underpinned by soaring purchases for mineral fuels, lubricants and related materials (113.9%), crude materials, inedible, except fuels (48%), machinery and transport equipment (24.2%), manufactured goods (19.2%), chemicals and related products n.e.s (18.9%), and miscellaneous manufactured articles (16.9%). Meanwhile, exports were up at a softer 10.2% to NOK 173.2 billion as sales increased for chemicals and related products n.e.s. (27.8%), miscellaneous manufactured articles (24.6%), mineral fuels, lubricants and related materials (8.2 percent), machinery and food and live animals (23.2%). source: Statistics Norway
Balance of Trade in Norway averaged 10713.33 NOK Million from 1960 until 2022, reaching an all time high of 199068.87 NOK Million in August of 2022 and a record low of -9403.41 NOK Million in June of 2020. 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 - data, historical chart, forecasts and calendar of releases - was last updated on November of 2022.
Balance of Trade in Norway is expected to be 204900.00 NOK Million by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Norway Balance of Trade is projected to trend around 197800.00 NOK Million in 2023 and 149800.00 NOK Million in 2024, according to our econometric models.