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2023
Flag → Flag
Exports $9.55BRnk 7 / 205
2023
Flag → Flag
Top Product $8.29BPetroleum Gas
2023
Flag → Flag
Exports $3.09BRnk 25 / 220
2023
Flag → Flag
Top Product $980MPassenger and Cargo Ships
2023
Flag
Economic Complexity (ECI) ECI 0.47Rnk 44 / 132
2023
Flag
Economic Complexity (ECI) ECI 1.23Rnk 20 / 132
2023
Flag  
GDP$485BCURRENT US$
Rnk 31 / 195
2013-2023
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GDP GROWTH-7.74%CURRENT US$
Rnk 180 / 195
2023
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 GDP$645BCURRENT US$
Rnk 23 / 195
2013-2023
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GDP GROWTH23%CURRENT US$
Rnk 132 / 195
2023
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GDP PC $87,925CURRENT US$
Rnk 7 / 195
2013-2023
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GDP PC GROWTH-15.1%CURRENT US$
Rnk 171 / 195
2023
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GDP PC$54,701CURRENT US$
Rnk 20 / 196
2013-2023
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GDP PC GROWTH16.5%CURRENT US$
Rnk 113 / 195

About

Norway-Belgium Trade: In 2023, Norway exported $9.55B to Belgium. The main products that Norway exported to Belgium were Petroleum Gas ($8.29B), Refined Petroleum ($505M), and Acyclic Hydrocarbons ($274M). Over the past 5 years the exports of Norway to Belgium have increased at an annualized rate of 9.43%, from $6.09B in 2018 to $9.55B in 2023.

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

Belgium-Norway Trade: In 2023, Belgium exported $3.09B to Norway. The main products that Belgium exported to Norway were Passenger and Cargo Ships ($980M), Refined Petroleum ($498M), and Cars ($141M). Over the past 5 years the exports of Belgium to Norway have increased at an annualized rate of 16.9%,  from $1.42B in 2018 to $3.09B in 2023.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Comparison: In 2023,  Norway ranked 44 in the Economic Complexity Index (ECI 0.47), and 33 in total exports ($187B). That same year, Belgium ranked 20 in the Economic Complexity Index (ECI 1.23), and 13 in total exports ($437B).

Latest Trends

December, 2024

About

Overview In December 2024, Norway exported NOK10.2B and imported NOK1.56B from Belgium, resulting in a positive trade balance of NOK8.63B. Between December 2023 and December 2024 the exports of Norway have increased by NOK1.92B (23.2%) from NOK8.27B to NOK10.2B, while imports decreased by NOK-227M (-12.8%) from NOK1.78B to NOK1.56B.

Trade In December 2024, the top exports of Norway to Belgium were Gas, natural and manufactured (NOK6.38B), Petroleum, petroleum products and related materials (NOK1.02B), Organic chemicals (NOK360M), Fish (not marine mammals), crustaceans, molluscs... (NOK117M), and Iron and steel (NOK63.8M). In December 2024 the top imports of Norway from Belgium were Petroleum, petroleum products and related materials (NOK394M), Chemical materials and products, n.e.s. (NOK190M), Road vehicles (including air-cushion vehicles) (NOK167M), Medicinal and pharmaceutical products (NOK109M), and Fixed vegetable fats and oils, crude,... (NOK102M).

Growth In December 2024, the increase in Norway's year-by-year exports to Belgium was explained primarily by an increase in product exports in Petroleum, petroleum products and related materials (NOK526M or 107%), Organic chemicals (NOK153M or 74%), and Chemical materials and products, n.e.s. (NOK39.2M or 5.27k%). In December 2024, the decrease in Norway's year-by-year imports  from Belgium was explained primarily by an decrease in product imports  in Chemical materials and products, n.e.s. (NOK-61.7M or -24.5%), Road vehicles (including air-cushion vehicles) (NOK-58M or -25.8%), and Fixed vegetable fats and oils, crude,... (NOK-54.4M or -34.8%).

Latest Trade

Time Scale
Flow
Value
EXPORT GROWTH (December 2023 - December 2024)NOK1.92B(23.2%)
IMPORT GROWTH (December 2023 - December 2024)NOK-227M(-12.8%)

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 Belgium and Norway trade dynamics, check the bilateral page.

For full datasets download visit Bulk Download page.

Explore Belgium and Norway Data

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Historical Data

Bilateral Trade by Products

Depth
Value

In 2023, Norway exported $9.55B to Belgium. The main products exported from Norway to Belgium were Petroleum Gas ($8.29B), Refined Petroleum ($505M), and Acyclic Hydrocarbons ($274M). During the last 5 years the exports of Norway to Belgium have increased at an annualized rate of 9.43%, from $6.09B in 2018 to $9.55B in 2023.

In 2018, Belgium exported $3.09B to Norway. The main products exported from Belgium to Norway were Passenger and Cargo Ships ($980M), Refined Petroleum ($498M), and Cars ($141M). During the last 5 years the exports of Belgium to Norway have increased at an annualized rate of 16.9%, from $1.42B in 2023 to $3.09B in 2018.

Exports from Norway (Flag) to Belgium (Flag) (2023)

Exports from Belgium (Flag) to Norway (Flag) (2023)

Market Competitiveness

Color
Norway
Top DestinationGermany$33.8B
Belgium
Top DestinationFrance$85.6B

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

In 2023, countries that imported more from Norway than Belgium included United Kingdom ($32.6B), Denmark ($12.7B), and Sweden ($15.9B).

In 2023, countries that imported more from Belgium than Norway included France ($85.6B), Netherlands ($67.3B), and Germany ($60.8B).

Difference in imports from Belgium (Flag) and Norway (Flag) (2023)

Comparative Advantage Norway - Belgium

Flow
Scale

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

During 2023, Norway had a large net trade with Belgium in the exports of Mineral Products ($8.84B), Chemical Products ($368M), and Metals ($111M).

During 2018, Belgium had a large net trade with Norway in the exports of Transportation ($1.31B), Mineral Products ($528M), and Chemical Products ($313M).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Belgium+$205MRefined Petroleum
Top Product Potential Belgium Norway+$97.7MRefined Petroleum

We estimate the export potential of an economy for each product and destination using an extension of the bilateral relatedness model of Jun et al. (2019).This extended gravity model considers similarities among products and geographies and explains more than 50% of the variance in future trade flows.

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Bilateral Service Trade

In 2009, Norway exported services to Belgium worth $1.53B, with Other business services ($753M), Transportation ($549M), and Computer and information services ($79.8M) being the largest in terms of value.

In 2020, Belgium exported services to Norway worth $509M, with Other business services ($211M), Transportation ($172M), and Insurance services ($46.8M) being the largest in terms of value.

Service trade data is presented based on availability.

Services Exports from Norway (Flag) to Belgium (Flag) (2009)

Services Exports from Belgium (Flag) to Norway (Flag) (2020)

Service Trade

Economic Complexity

Competitive Landscape

This visualization shows the product space at the HS4 level with the flags of Norway and Belgium. This means that a dot/product with the flag of Norway indicates it has a comparative advantage over Belgium. Similarly, a dot/product with the flag of Belgium indicates it has a comparative advantage over Norway.

Product Space of Norway (Flag) and Belgium (Flag) (2023)

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