Norway (NOR) and Spain (ESP) Trade | The Observatory of Economic Complexity

About

Norway-Spain In 2022, Norway exported $2.49B to Spain. The main products that Norway exported to Spain are Non-fillet Fresh Fish ($619M), Crude Petroleum ($485M), and Raw Aluminium ($362M). During the last 27 years the exports of Norway to Spain have increased at an annualized rate of 4.64%, from $730M in 1995 to $2.49B in 2022.

In 2009, Norway exported services to Spain worth $399M, with Transportation ($161M), Other business services ($83.9M), and Financial services ($75.6M) being the largest in terms of value.

Spain-Norway In 2022, Spain exported $1.86B to Norway. The main products that Spain exported to Norway were Cars ($174M), Delivery Trucks ($167M), and Aluminium Oxide ($152M). During the last 27 years the exports of Spain to Norway have increased at an annualized rate of 4.14%, from $623M in 1995 to $1.86B in 2022.

In 2009, Spain exported services to Norway worth $2.84B, with Services not allocated ($1.61B), Travel ($1.12B), and Transportation ($112M) being the largest in terms of value.

Comparison In 2022, Norway ranked 41 in the Economic Complexity Index (ECI 0.58), and 28 in total exports ($285B). That same year, Spain ranked 33 in the Economic Complexity Index (ECI 0.8), and 20 in total exports ($394B).

Latest Trends

February, 2024

About

Overview In February 2024, Norway exported NOK1.71B and imported NOK1.8B from Spain, resulting in a negative trade balance of NOK88.8M. Between February 2023 and February 2024 the exports of Norway have decreased by NOK-1.66B (-49.3%) from NOK3.37B to NOK1.71B, while imports decreased by NOK-226M (-11.2%) from NOK2.02B to NOK1.8B.

Trade In February 2024, the top exports of Norway to Spain were Petroleum, petroleum products and related materials (NOK613M), Fish (not marine mammals), crustaceans, molluscs... (NOK608M), Non-ferrous metals (NOK304M), Iron and steel (NOK218M), and Professional, scientific and controlling instruments and... (NOK63M). In February 2024 the top imports of Norway from Spain were Vegetables and fruit (NOK385M), Road vehicles (including air-cushion vehicles) (NOK311M), Medicinal and pharmaceutical products (NOK239M), Manufactures of metals, n.e.s. (NOK156M), and Chemical materials and products, n.e.s. (NOK109M).

Growth In February 2024, the decrease in Norway's year-by-year exports to Spain was explained primarily by an decrease in product exports in Chemical materials and products, n.e.s. (NOK-130M or -75.4%), Non-ferrous metals (NOK-50.7M or -14.3%), and Animal oils and fats (NOK-27.5M or -85.1%). In February 2024, the decrease in Norway's year-by-year imports from Spain was explained primarily by an decrease in product imports in Metalliferous ores and metal scrap (NOK-101M or -99.9%), Crude animal and vegetable materials, n.e.s. (NOK-22.4M or -29.8%), and Coal, coke and briquettes (NOK-17.7M or -100%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)NOK-1.66B(-49.3%)

IMPORT GROWTH (February 2023 - February 2024)NOK-226M(-11.2%)

This section shows exports and imports data at subnational level for Norway. Click any date in the line plot or any product to explore the exports or imports behavior of Norway over time.

To check Spain and Norway trade dynamics, check the bilateral page.

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Historical Data

Bilateral Trade by Products

Depth

HS2

HS4

HS6

Value

Trade

Growth

Growth (%)

Year

In 2022, Norway exported $2.49B to Spain. The main products exported from Norway to Spain were Non-fillet Fresh Fish ($619M), Crude Petroleum ($485M), and Raw Aluminium ($362M). During the last 27 years the exports of Norway to Spain have increased at an annualized rate of 4.64%, from $730M in 1995 to $2.49B in 2022.

In 2022, Spain exported $1.86B to Norway. The main products exported from Spain to Norway were Cars ($174M), Delivery Trucks ($167M), and Aluminium Oxide ($152M). During the last 27 years the exports of Spain to Norway have increased at an annualized rate of 4.14%, from $623M in 1995 to $1.86B in 2022.

Exports from Norway () to Spain () (2022)

Exports from Spain () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Spain
Top DestinationFrance$65.2B

This map shows whether countries import more from Norway or Spain. Each country is colored based on the difference in imports they receive from Norway and Spain or the difference in the growth in imports.

In 2021, countries that imported more from Norway than Spain were Germany ($78.1B), United Kingdom ($59.1B), and Sweden ($17.7B).

In 2021, countries that imported more from Spain than Norway were France ($65.2B), Portugal ($34.9B), and Italy ($32.1B).

Difference in imports from Spain () and Norway () (2022)

Comparative Advantage Norway - Spain

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

This chart compares trade between Norway and Spain by product, considering products traded by both, Norway and Spain.

During 2022, Norway had a large net trade with Spain in the exports of Animal Products ($760M), Mineral Products ($712M), and Metals ($593M).

During 2022, Spain had a large net trade with Norway in the exports of Transportation ($485M), Chemical Products ($403M), and Machines ($219M).

Service Trade

Bilateral Service Trade

Esp Year

Nor Year

In 2009, Norway exported services to Spain worth $399M, with Transportation ($161M), Other business services ($83.9M), and Financial services ($75.6M) being the largest in terms of value.

In 2009, Spain exported services to Norway worth $2.84B, with Services not allocated ($1.61B), Travel ($1.12B), and Transportation ($112M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway () to Spain () (2009)

Services Exports from Spain () to Norway () (2009)

Economic Complexity

Competitive Landscape

Year

This visualization show the product space at the HS4 level colored from blue to yellow. This mean that the more blue a dot/product is, the more Norway has comparative advantage over Spain. Similarly, the more yellow a dot/product is, the more Spain has comparative advantage over Norway.

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Latest Trends

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Latest Trade

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Historical Data

Bilateral Trade by Products

Exports from Norway () to Spain () (2022)

Exports from Spain () to Norway () (2022)

Market Competitiveness

Difference in imports from Spain () and Norway () (2022)

Comparative Advantage Norway - Spain

Service Trade

Bilateral Service Trade

Services Exports from Norway () to Spain () (2009)

Services Exports from Spain () to Norway () (2009)

Economic Complexity

Competitive Landscape

Product Space of Norway () and Spain () (2022)

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