2022
Flag  
GDP
$579BCURRENT US$
Rnk 24 / 186
2012-2022
Flag
GDP GROWTH
13%CURRENT US$
Rnk 141 / 186
2022
Flag
 GDP
$344BCURRENT US$
Rnk 43 / 186
2012-2022
Flag
GDP GROWTH
-7.22%CURRENT US$
Rnk 172 / 186
2022
Flag
GDP PC 
$106,149CURRENT US$
Rnk 3 / 186
2012-2022
Flag
GDP PC GROWTH
3.89%CURRENT US$
Rnk 131 / 186
2022
Flag
GDP PC
$6,630CURRENT US$
Rnk 98 / 186
2012-2022
Flag
GDP PC GROWTH
-18.1%CURRENT US$
Rnk 169 / 186

About

Norway-Colombia Trade: In 2022, Norway exported $59.8M to Colombia. The main products that Norway exported to Colombia were Mixed Mineral or Chemical Fertilizers ($33.5M), Wood Pulp Lyes ($3.23M), and Electric Generating Sets ($2.53M). Over the past 5 years the exports of Norway to Colombia have increased at an annualized rate of 10.5%, from $36.3M in 2017 to $59.8M in 2022.

In 2022, Norway did not export any services to Colombia.

Colombia-Norway Trade: In 2022, Colombia exported $329M to Norway. The main products that Colombia exported to Norway were Coal Briquettes ($202M), Coffee ($64.4M), and Coke ($49.6M). Over the past 5 years the exports of Colombia to Norway have increased at an annualized rate of 20.7%,  from $72.9M in 2017 to $329M in 2022.

In 2022, Colombia did not export any services to Norway.

Comparison: In 2022,  Norway ranked 43 in the Economic Complexity Index (ECI 0.54), and 28 in total exports ($285B). That same year, Colombia ranked 58 in the Economic Complexity Index (ECI 0.11), and 53 in total exports ($60.3B).

Historical Data

Bilateral Trade by Products

Depth
Value

In 2022, Norway exported $59.8M to Colombia. The main products exported from Norway to Colombia were Mixed Mineral or Chemical Fertilizers ($33.5M), Wood Pulp Lyes ($3.23M), and Electric Generating Sets ($2.53M). During the last 5 years the exports of Norway to Colombia have increased at an annualized rate of 10.5%, from $36.3M in 2017 to $59.8M in 2022.

In 2017, Colombia exported $329M to Norway. The main products exported from Colombia to Norway were Coal Briquettes ($202M), Coffee ($64.4M), and Coke ($49.6M). During the last 5 years the exports of Colombia to Norway have increased at an annualized rate of 20.7%, from $72.9M in 2022 to $329M in 2017.

Exports from Norway (Flag) to Colombia (Flag) (2022)

Exports from Colombia (Flag) to Norway (Flag) (2022)

Market Competitiveness

Color
Norway
Top Destination
Germany$78.1B
Colombia
Top Destination
United States$15.6B

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

In 2022, countries that imported more from Norway than Colombia included Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2022, countries that imported more from Colombia than Norway included United States ($15.6B), Panama ($5.84B), and Ecuador ($1.89B).

Difference in imports from Colombia (Flag) and Norway (Flag) (2022)

Comparative Advantage Norway - Colombia

Flow
Scale

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

During 2022, Norway had a large net trade with Colombia in the exports of Chemical Products ($42M), Machines ($5.88M), and Metals ($2.87M).

During 2017, Colombia had a large net trade with Norway in the exports of Mineral Products ($253M), Vegetable Products ($73.6M), and Plastics and Rubbers ($880k).

Potential Exports

Potential Exports

Depth
View
Sort By
Top Product Potential Norway Colombia+$1.41MNon-fillet Frozen Fish
Top Product Potential Colombia Norway+$1.61MBananas

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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Economic Complexity

Competitive Landscape

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

Product Space of Norway (Flag) and Colombia (Flag) (2022)

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