Overview In January 2023, Norway exported NOK2.15B and imported NOK1.99B from Spain, resulting in a positive trade balance of NOK164M. Between January 2022 and January 2023 the exports of Norway have increased by NOK16M (0.75%) from NOK2.13B to NOK2.15B, while imports increased by NOK462M (30.3%) from NOK1.52B to NOK1.99B.
Trade In January 2023, the top exports of Norway to Spain were Petroleum, petroleum products and related materials (NOK587M), Fish (not marine mammals), crustaceans, molluscs... (NOK540M), Non-ferrous metals (NOK354M), Chemical materials and products, n.e.s. (NOK172M), and Iron and steel (NOK153M). In January 2023 the top imports of Norway from Spain were Vegetables and fruit (NOK325M), Road vehicles (including air-cushion vehicles) (NOK244M), Manufactures of metals, n.e.s. (NOK142M), Medicinal and pharmaceutical products (NOK129M), and Metalliferous ores and metal scrap (NOK101M).
Growth In January 2023, the increase in Norway's year-by-year exports to Spain was explained primarily by an increase in product exports in Petroleum, petroleum products and related materials (NOK284M or 93.8%), Non-ferrous metals (NOK201M or 130%), and Iron and steel (NOK150M or 4.87k%). In January 2023, the increase in Norway's year-by-year imports from Spain was explained primarily by an increase in product imports in Medicinal and pharmaceutical products (NOK71.7M or 126%), Manufactures of metals, n.e.s. (NOK37.8M or 36.5%), and Crude animal and vegetable materials, n.e.s. (NOK25.5M or 51.2%).