Norway (NOR) and Cyprus (CYP) Trade | The Observatory of Economic Complexity

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Norway-Cyprus In 2022, Norway exported $48.4M to Cyprus. The main products that Norway exported to Cyprus are Passenger and Cargo Ships ($13M), Prefabricated Buildings ($5.66M), and Surveying Equipment ($4.45M). During the last 27 years the exports of Norway to Cyprus have decreased at an annualized rate of 1.31%, from $69.1M in 1995 to $48.4M in 2022.

In 2009, Norway exported services to Cyprus worth $35.3M, with Transportation ($16.9M), Other business services ($8.95M), and Travel ($8.15M) being the largest in terms of value.

Cyprus-Norway In 2022, Cyprus exported $74.5M to Norway. The main products that Cyprus exported to Norway were Paintings ($35.6M), Passenger and Cargo Ships ($25.3M), and Surveying Equipment ($5.46M). During the last 27 years the exports of Cyprus to Norway have increased at an annualized rate of 4.33%, from $23.7M in 1995 to $74.5M in 2022.

In 2020, Cyprus exported services to Norway worth $43.4M, with Transportation ($36.6M), Financial services ($3.43M), and Travel ($2.28M) 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, Cyprus ranked 125 in total exports ($4.91B), and does not have data regarding Economic Complexity Index.

Latest Trends

February, 2024

About

Overview In February 2024, Norway exported NOK9.4M and imported NOK6.16M from Cyprus, resulting in a positive trade balance of NOK3.24M. Between February 2023 and February 2024 the exports of Norway have decreased by NOK-8.8M (-48.4%) from NOK18.2M to NOK9.4M, while imports decreased by NOK-41k (-0.66%) from NOK6.2M to NOK6.16M.

Trade In February 2024, the top exports of Norway to Cyprus were Professional, scientific and controlling instruments and... (NOK14.4M), General industrial machinery and equipment, n.e.s.,... (NOK1.63M), Fish (not marine mammals), crustaceans, molluscs... (NOK1.29M), Manufactures of metals, n.e.s. (NOK774k), and Electrical machinery, apparatus and appliances, n.e.s.,... (NOK515k). In February 2024 the top imports of Norway from Cyprus were General industrial machinery and equipment, n.e.s.,... (NOK7.39M), Electrical machinery, apparatus and appliances, n.e.s.,... (NOK2.83M), Manufactures of metals, n.e.s. (NOK2.68M), Professional, scientific and controlling instruments and... (NOK1.62M), and Iron and steel (NOK800k).

Growth In February 2024, the decrease in Norway's year-by-year exports to Cyprus was explained primarily by an decrease in product exports in Power-generating machinery and equipment (NOK-1.04M or -85.6%), General industrial machinery and equipment, n.e.s.,... (NOK-274k or -14.4%), and Telecommunications and sound-recording and reproducing apparatus... (NOK-186k or -49.6%). In February 2024, the decrease in Norway's year-by-year imports from Cyprus was explained primarily by an decrease in product imports in Dairy products and birds' eggs (NOK-270k or -29.3%), Miscellaneous manufactured articles, n.e.s. (NOK-62k or -88.6%), and Crude animal and vegetable materials, n.e.s. (NOK-45k or -100%).

Latest Trade

Flow

Exports

Imports

Time Scale

Year

Quarter

Month

Value

Trade Value

Growth

Growth (%)

EXPORT GROWTH (February 2023 - February 2024)NOK-8.8M(-48.4%)

IMPORT GROWTH (February 2023 - February 2024)NOK-41k(-0.66%)

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 Cyprus 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 $48.4M to Cyprus. The main products exported from Norway to Cyprus were Passenger and Cargo Ships ($13M), Prefabricated Buildings ($5.66M), and Surveying Equipment ($4.45M). During the last 27 years the exports of Norway to Cyprus have decreased at an annualized rate of 1.31%, from $69.1M in 1995 to $48.4M in 2022.

In 2022, Cyprus exported $74.5M to Norway. The main products exported from Cyprus to Norway were Paintings ($35.6M), Passenger and Cargo Ships ($25.3M), and Surveying Equipment ($5.46M). During the last 27 years the exports of Cyprus to Norway have increased at an annualized rate of 4.33%, from $23.7M in 1995 to $74.5M in 2022.

Exports from Norway () to Cyprus () (2022)

Exports from Cyprus () to Norway () (2022)

Market Competitiveness

Color

Exports

Export Growth

Section

Year

Norway
Top DestinationGermany$78.1B

Cyprus
Top DestinationHong Kong$482M

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

In 2021, countries that imported more from Norway than Cyprus were Germany ($78.1B), United Kingdom ($59.1B), and France ($25.9B).

In 2021, countries that imported more from Cyprus than Norway were Lebanon ($329M), Liberia ($255M), and Hong Kong ($482M).

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

Comparative Advantage Norway - Cyprus

Flow

Section

HS2

HS4

Scale

Log

Linear

Year

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

During 2022, Norway had a large net trade with Cyprus in the exports of Transportation ($13.6M), Machines ($13.1M), and Instruments ($6.05M).

During 2022, Cyprus had a large net trade with Norway in the exports of Arts and Antiques ($35.6M), Transportation ($25.6M), and Instruments ($5.51M).

Service Trade

Bilateral Service Trade

Cyp Year

Nor Year

In 2009, Norway exported services to Cyprus worth $35.3M, with Transportation ($16.9M), Other business services ($8.95M), and Travel ($8.15M) being the largest in terms of value.

In 2020, Cyprus exported services to Norway worth $43.4M, with Transportation ($36.6M), Financial services ($3.43M), and Travel ($2.28M) being the largest in terms of value.

Service trade data is presented based on availability.

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

Services Exports from Cyprus () to Norway () (2020)

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 Cyprus. Similarly, the more yellow a dot/product is, the more Cyprus 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 Cyprus () (2022)

Exports from Cyprus () to Norway () (2022)

Market Competitiveness

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

Comparative Advantage Norway - Cyprus

Service Trade

Bilateral Service Trade

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

Services Exports from Cyprus () to Norway () (2020)

Economic Complexity

Competitive Landscape

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

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